Saturday Extra - Full program podcast Economics Nobel winner Simon Johnson on why nations succeed and fail
Oct 18, 2024
Guest
Simon Johnson
Guest
Courtney Subramanian
Guest
Ahmed Fouad Al-Khatib
Guest
Juliette Reardon
Guest
Brendan Cowell
Guest
Tim Buckley
Guest
John O'Halloran
Guest
Efrat Machikawa
Simon Johnson, a Nobel Prize-winning economist, unpacks the enduring impacts of colonization on modern economies, contrasting inclusive and extractive institutions. Courtney Subramanian explores Kamala Harris' political evolution, while Ahmed Fouad Al-Khatib sheds light on recent events in the Israel-Hamas conflict. Juliette Reardon discusses King Charles III's visit to Australia, addressing historical ties and Indigenous relations. Brendan Cowell shares insights on vulnerability in masculinity through his ABC drama, 'Plum', emphasizing mental health dialogues.
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Episode notes
Colonization's Impact on Nations
- Colonization's legacy significantly impacts global inequality, dictating a nation's wealth.
- Colonizers' varying intentions, from shared wealth to oppressive systems, shaped institutions and subsequent prosperity.
Inclusive vs. Extractive Institutions
- Inclusive institutions, offering rights and opportunities, fostered prosperity in settler colonies like Australia, Canada, and the US.
- Extractive institutions, designed to benefit a select few, hindered growth in areas like Africa and the Caribbean.
Democracies and Growth
- Stable democracies promote economic growth by fostering trust and shared prosperity.
- This is crucial amidst the rise of authoritarianism, as strong democracies can withstand shocks.