Why are some nations richer?

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 15 October 2024

⏱️ 9 minutes

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Summary

This year's Economics Nobel went to a trio of researchers whose work focuses on the importance of strong institutions for an economy. Today we hear from the newly minted Nobel laureates about how they came to their groundbreaking conclusions.

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Transcript

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0:00.0	NPR. One of the most fundamental questions in economics is what causes some countries to
0:16.5	become rich while others lag behind?
0:19.5	Is the answer climate, politics, or maybe it's geography. What about culture? There are a
0:24.8	thousand potential explanations to why countries succeed economically, but few
0:29.6	good ways to tease out what really matters.
0:32.6	Are you with us, Professor Ashemuglu?
0:34.8	Yes, yes I am.
0:36.3	On Monday, three economists won the Economics Nobel,
0:39.2	Daren Asymuglu, Simon Johnson and James Robinson.
0:42.4	And please accept our warmest. Congratulations. Gaglue, Simon Johnson and James Robinson.
0:42.6	And please accept our warmest.
0:44.3	Congratulations.
0:46.4	Thank you.
0:46.9	I am delighted.
0:48.4	They received the prize because they found an ingenious way to slice through the knots of historical contingencies.
0:54.7	They found a way to understand why countries prosper.
1:00.1	This is the indicator from Planet Money, I'm Wailen Wong.
1:02.6	And I'm Darien Woods.
1:03.8	Today on the show, The Recipe for Riches.
1:07.0	Newly Mented Nobel laureates explain.
1:09.8	This message comes from NPR sponsor Organic Valley, a co-op of small organic
1:19.6	farms. Farmer Tyler Webb shares why caring for his land has always been a priority.
	...

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