James A. Robinson

James A. Robinson, a University of Chicago professor and 2024 Nobel laureate in Economic Sciences, explores what drives national success or failure. He discusses the significant role of political and economic institutions using examples like Nogales, Arizona, and Nogales, Mexico. Robinson dives into the balance between liberty and governance while examining the dynamics of states in transition. He also shares insights on tailoring economic advice to diverse local contexts and reflects on the process of envisioning ideal societies based on historical lessons.

James Robinson, a renowned author and political economist at the University of Chicago, dives into why nations thrive or falter based on their political and economic institutions. He contrasts inclusive and extractive systems, revealing how historical events like colonialism have shaped modern governance. The discussion spans from the rise of China's economy under reforms to the legacy of extractive institutions in regions like the Middle East. Robinson also emphasizes the importance of robust democracy for genuine development.

In this thought-provoking discussion, Jeffrey Sachs, a Columbia University professor and sustainable development expert, teams up with James Robinson, a University of Chicago professor known for his insights on institutional economics. They dive into the rising interest in socialism among millennials and dissect its implications in the U.S. They explore global perspectives on economic systems, contrasting successful models like Norway with the struggles in Venezuela, while emphasizing the importance of strong institutions in managing resources and addressing inequality.