Economic crises act as crucial turning points that drive essential reform and transformation within governments. Greece exemplifies this as it emerged from a dire financial situation a decade ago to become one of the best-performing economies in Europe today. The nation's recovery illustrates how crises prompt necessary actions that lead to improvements. Similarly, Poland stands on the threshold of becoming a developed country, with its rising per capita income and strengthened institutions due to cooperative governance and EU support. The broader trend highlights that countries burdened by economic challenges can leverage crises to innovate and advance, ultimately outperforming their more stable counterparts.
Ruchir Sharma, the Chairman of Rockefeller International and Founder and Chief Investment Officer of Breakout Capital, an investment firm focused on emerging markets, joins Scott to discuss his latest book, “What Went Wrong with Capitalism.” Follow Ruchir on X, @ruchirsharma_1.
Algebra of Happiness: happiness awaits.
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