Economics Nobel winner Simon Johnson on why nations succeed and fail
Oct 18, 2024
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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.
The assassination of Hamas leader Yahya Simwa may change the power dynamics in Gaza and heighten ceasefire negotiations for hostages.
Kamala Harris's political journey illustrates the challenges of public perception and messaging in navigating complex roles like the Vice Presidency.
Nobel laureates' research reveals the lasting economic impacts of colonialism, emphasizing the role of institutions in shaping current global disparities.
Deep dives
Impact of Yahya Simwa's Death
The killing of Yahya Simwa, the Hamas leader, has significant implications for the ongoing conflict in Gaza and Israel. This event marks a pivotal moment that has the potential to alter the dynamics of the region. While some within Israel perceive this as a strategic victory, families of hostages are expressing anxiety about how this might affect their loved ones and the ongoing hostilities. The desire for a renewed push toward a ceasefire and negotiations regarding hostage release has intensified, with relatives urging the government not to waste this moment.
Kamala Harris's Evolution
Kamala Harris has undergone a significant transformation in public perception from her initial presidential campaign in 2019 to becoming the Vice President. Her early campaign struggled due to vague messaging and failure to connect with key Democratic constituents, leading to her eventual withdrawal. However, she gained attention during a debate with Joe Biden, showcasing her ability to challenge established figures within the party. Despite initial skepticism about her candidacy, her personal connections and demographic qualifications made her a compelling choice as Biden's running mate.
Challenges of Kamala Harris's Vice Presidency
Kamala Harris faced considerable hurdles during her first year as Vice President, particularly with her assigned portfolio focusing on the complex issue of immigration and root causes of migration. Despite her gracious acceptance of the role, the political complexities and high stakes surrounding immigration placed her in a challenging position. A notable incident occurred during her visit to Guatemala, where her handling of questioning regarding border issues raised concerns about her preparedness and the effectiveness of her team. This early stumbling set the tone for subsequent media coverage and public perception, highlighting her difficulties in navigating a highly scrutinized political landscape.
Nobel Prize Insights on Colonialism
Recent work by Nobel laureates has illuminated the enduring effects of colonialism on global economic disparities. The research emphasizes the impact of institutions established during colonial times, differentiating between inclusive and extractive systems. In regions where settlers opted for inclusive practices, long-term economic growth was fostered, while extractive practices led to chronic poverty and instability. This analysis underscores how the historical precedents established by colonizers continue to shape the economic frameworks of nations today and the resultant inequalities that persist.
Wyala’s Green Future Potential
Wyala, a South Australian steel town, is positioned as a potential leader in the global green steel industry, touted as a critical component in Australia’s transition towards sustainable practices. Despite past promises from industrialists like Sanjeev Gupta, the town faces uncertainty due to financial challenges and management struggles that have led to dwindling confidence among local businesses and workers. Measures are being taken by local and state governments to explore alternative investments and secure Wyala's future. The dream of transforming Wyala into a hub for green iron production remains alive but precariously dependent on effective leadership and investment in sustainable technologies.