One of the most fundamental questions in economics is what causes some countries to become rich while others lag behind?
Is the answer climate politics?
Or maybe its geography?
What about culture?
There are a thousand potential explanations to why countries succeed economically, but few good ways to tease out what really matters matters.
Are you with us, Professor Asimoglo?
Yes.
Yes, I am.
On Monday, three economists won the economics Nobel.
Daron Acemoglu, Simon Johnson and James Robinson.
Please accept our warmest congratulations.
Thank you.
I am delighted they received the prize because they found an ingenious way to slice through the knots of historical contingencies.
They found a way to understand why countries prosper.
This is the indicator from planet money.
I'm Waylon Wong.
And I'm Darien woods.
Today on the show, the recipe for riches.
Newly minted Nobel laureates explain.
Support comes from our 2024 lead sponsor of the indicator from Planet money, Amazon business everyone could use more time.