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🗓️ 6 July 2009
⏱️ 63 minutes
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0:00.0 | Welcome to Econ Talk, part of the Library of Economics and Liberty. I'm your host Russ Roberts |
0:13.9 | of George Mason University and Stanford University's Hoover Institution. Our website is econtalk.org |
0:21.2 | where you can subscribe, find other episodes, comment on this podcast, and find links to |
0:26.5 | another information related to today's conversation. Our email address is mailadicontalk.org. We'd |
0:33.6 | love to hear from you. Today is June 11, 2009, and my guest is Paul Collier of Oxford University. |
0:43.2 | He is the author of his most recent book is Wars, Guns and Votes, Democracy in Dangerous Places. |
0:50.6 | Paul, welcome back to Econ Talk. Thanks very much. Your book starts by noting the |
0:56.7 | spread of democracy as a recent phenomenon and how encouraging we at least thought that was |
1:02.2 | initially, but ultimately we were a little disappointed. So what happened? What caused that spread and |
1:09.4 | why is it disappointing? Well, the spread is no surprise and the spread occurred as a result of |
1:15.8 | the fall of the Soviet Union. First democracy spread in Eastern Europe directly as a result of the |
1:25.3 | fall of the Soviet Union, and then that gave courage to democracy movements across the world, |
1:33.5 | and so a lot of the societies of the bottom billion moved to democracy really quite rapidly. |
1:41.8 | The bottom billion you mean the poorest people in the world? I mean by the bottom billion I mean |
1:47.3 | sort of about 60 little countries that failed to grow for one reason or another. They were in |
1:59.5 | various traps that I discussed in my previous book, The Bottom Billion. |
2:03.4 | And a previous podcast, which is we'll put a link to it. Yeah, and so a lot of these countries |
2:12.4 | had been autocracies run by narrow elites that had run the economy in their own self-interest. |
2:23.4 | And so like many people, I was very hopeful that the spread of democracy would quite rapidly lead |
2:31.6 | to fundamental changes in economic policy that would bring prosperity to these societies. |
2:38.8 | And like many people, I diagnosed the sort of a core problem as being a |
2:46.0 | a political problem of the concentration of power in self-serving elites. |
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