Ep. 1867 How Poor Countries Become Rich

The Tom Woods Show

Tom Woods

Politics, Economics, Libertarian, Government, News

4.8 • 3.3K Ratings

🗓️ 1 April 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is the process by which countries develop economically? It used to be assumed that government-to-government transfers were indispensable. That view has fallen somewhat out of favor, but there are still plenty of errors in the way some economists think about this question. Shawn Ritenour, professor of economics at Grove City College and author of a forthcoming book on development economics, joins us for the right answer.

Transcript

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0:00.0	The Tom Woods Show, Episode 1867.
0:03.4	Prepare to set fire to the index card of allowable opinion.
0:07.9	Your daily dose of liberty education starts here.
0:11.5	The Tom Woods Show.
0:13.4	Hey folks, Tom Woods here.
0:15.6	We're joined today by our friend Sean Rittnour,
0:18.5	who is a professor of economics at Grove City College.
0:21.9	He's also the author of the textbook Foundations of Economics,
0:25.3	which is really outstanding.
0:27.0	And we're going to talk today about the subject
0:29.2	of a book he's working on right now,
0:30.9	which involves something called development theory.
0:33.6	That is to say, how do countries develop?
0:36.4	How do they go from, let's say,
0:38.3	what we now today call less developed countries
0:40.8	into developed countries?
0:41.9	How do they go from, frankly, poor countries
0:45.2	to being prosperous countries?
0:47.2	That's exactly what he is looking at.
0:49.3	And what I would say is rather an important book,
0:51.8	isn't that?
0:52.6	That's a rather an important subject.
	...

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