This one thing can help change a country's culture! feat. Joel Mokyr

Joel emphasizes the societal resistance to change, stating how individuals are shaped by their peers, teachers, and parents, who may deter them from questioning established norms. Joel elaborates that incentives can influence individuals to think creatively and devise innovative solutions. However, if society reacts negatively to such attempts, individuals might choose to stay quiet or move to places where their efforts are more appreciated. This dynamic contributes to the slow pace of cultural change. Full Episode Link (Part 1): https://youtu.be/iV21apDujg8 (Part 2): https://youtu.be/j-EtfjGJbV0 Chapters: 00:00 Introduction: The Question of Wealth 00:30 Adam Smith's Perspective on Wealth 01:39 The Significance of the Industrial Revolution 03:56 The Role of Technology in Economic Change 06:40 The Concept of Useful Knowledge 07:24 The Impact of Institutions and Resource Allocation 08:02 The Success of Emerging Economies 08:50 The Future of Global Economy: Knowledge and Trade In this two-part episode of The Great Tech Game podcast, host Anirudh Suri is joined by Joel Mokyr to dig deep into why some societies get rich, creative and successful while others don't. Mokyr and Suri discuss examples of countries that have unshackled themselves from their past, such as 19th century Japan during the Meiji Restoration and the East Asian tigers. They also explore how India can reverse its brain drain and become a tech nation, and not remain just a talent nation. Mokyr highlights the high levels of inequality being driven by the tech economy today, and both draw parallels with pre-WWI Europe and its experience with vast inequality driven by industrial capitalism. Jumping to the modern era, they discuss whether AI represents a new revolution in knowledge, or whether it is just hype. About Joel Mokyr: Joel Mokyr is Professor of Economics and History at Northwestern University. Joel Mokyr conducts research on the economic history of Europe, and specializes in the period 1750-1914. His current research is focused on the understanding of the economic and intellectual roots of technological progress and the growth of useful knowledge in European societies, as well as the impact that industrialization and economic progress have had on economic welfare.