So Much of the World Economy Has Been Going in Reverse

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 17 April 2023

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Over time, we expect the world to get richer. Yes, there are disruptions and setbacks (and we have seen several large ones in the last few years) but the expectation is to see growth and an increase in material wealth. And yet for years, many countries around the world have seen stagnation or outright reversal — particularly once you exclude East Asia. On this episode of Odd Lots, we speak with Henry Williams and David Oks, the authors of a recent piece in the journal American Affairs about what they call The Long, Slow Death of Global Development. They argue that traditional development models, particularly those built around manufacturing, have failed much of the world, with little prospect of improvement anytime soon.

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0:00.0	No one just watches a movie anymore.
0:02.0	They play the video game, screen the soundtrack, and binge a podcast too.
0:06.0	Boundaries have blurred and ever in a scrambling for one thing, screen time.
0:10.0	Join me, Lucas Shaw, for Bloomberg Screen Time.
0:13.0	Our new LA event that will connect entertainment's brightest minds.
0:17.0	We'll be interviewing guests like Ted Cerandos of Netflix, Donald Langley of NBC Universal,
0:21.0	and Arya Manual, the super agent Debt and Devar.
0:24.0	Catch it on October 11th and 12th.
0:26.0	You can find out more at bloomberglive.com slash screen time.
0:30.0	Hello and welcome to another episode of the AdLots Podcast.
0:44.0	I'm Joe Weisenthal.
0:45.0	And I'm Tracy Alloway.
0:47.0	Tracy, I think for like all of our careers, probably like all of our lives.
0:51.0	It feels like there has been this story of developing emerging markets,
0:56.0	getting better, emerging, maybe emerging markets becoming rich.
0:59.0	Like, you know, just this general view that, yeah, you get these hiccups and de-globalization ever,
1:04.0	but the arrows are all up.
1:06.0	In general, it's a steady line that kind of goes up over the long term.
1:11.0	What was it like the Victor Schwet's question at a recent trivia thing about like,
1:16.0	what did they call them in the 60s, in the 80s?
1:19.0	It was like underdeveloped markets.
1:23.0	And then emerging.
	...

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