Paul Collier, a renowned economist focused on global inequality, discusses his new book addressing the plight of neglected areas. He delves into the economic decline of cities like Detroit, advocating for civic leadership and community collaboration as essential for recovery. Collier also explores how evolutionary economics offers fresh perspectives on aiding communities, stressing the importance of understanding radical uncertainty and rapid learning. His insights challenge traditional approaches by emphasizing local empowerment and the need for adaptive leadership in tackling economic challenges.

Felix Salmon chats with Paul Collier, renowned author of The Bottom Billion, who specializes in the economics of neglected regions. They discuss how economic decline can be resisted through local empowerment and community initiatives, citing examples from Spain's Basque region and post-reunification Germany. Collier argues for tailored strategies that embrace local strengths rather than overarching national policies. The conversation highlights transformative leadership, historical lessons, and the possibilities for revitalizing struggling economies across the globe.