European colonization strategies differed in South America and North America due to the existing settlements. South America was settled by Spaniards following an elite-driven approach, while English colonization faced challenges in North America leading to self-governing institutions in places like Jamestown. Africa, with existing settlements and harsh conditions, saw an exploited relationship by Europeans. Countries like Botswana thrived post-independence due to historical ties with the British Empire, showcasing a blend of human agency, luck, and historical legacies.
We were lucky enough to talk with Prof. Asemoglu of MIT about why Africa lags economically despite so much aid and resources being pumped into the country each year. From the impact of institutions to the legacy of policies, we talked about the reasons behind the continent's challenges and the potential paths forward that might actually help improve living conditions in African nations within our lifetimes.
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