Nobel prize winners sort out why some nations are wealthy and others are poor : Planet Cash : NPR

Economics Prize laureates James Robinson, Daron Acemoglu and Simon Johnson.

Clement Morin/Nobel Prize Outreach

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Clement Morin/Nobel Prize Outreach

Economics Prize laureates James Robinson, Daron Acemoglu and Simon Johnson.

Clement Morin/Nobel Prize Outreach

Why do some nations fail and others succeed?

Within the late Nineties and early 2000s, three economists fashioned a partnership that will revolutionize the best way economists take into consideration world inequality. Their work centered on the highly effective – and radically clear – concept that the financial destiny of countries is set by how societies set up themselves. In different phrases, economists highlighted the ability of establishments, methods, guidelines and buildings that form society.

We spoke with two Nobel Prize-winning economists about their analysis into what makes some nations wealthy and others poor, why it took so lengthy for economics to acknowledge the ability of establishments, and what these establishments actually are.

This episode was hosted by Jeff Go and Greg Rosalski. It was produced by Willa Rubin with help from James Snead. Edited by Martina Castro and verified by Sierra Juarez. Engineering by Jilly Moon with help from James Willits. Alex Goldmark is Cash planetGovernment Producer.

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