EP05 - The Great Divergence: Culture and Institutions ft. Jared Rubin

Introduction to Political Economy

Why are some countries rich, while other countries are poor? It wasn't always the way it is now. For centuries the Middle East was doing better than Europe economically (among other things), and South Asia and China were in their own ways even worth considering as centres of the world economy up to the 1700s. Around this time most regions of the world appear to have converged on similar levels of living standards by some measures, but that changed very quickly. Why did Europe pull ahead while the rest did not? Some explanations point to culture and religion. Others point to institutions (the laws, policies, and rules of the game in general) that Europe might have had and others did not. Are they related?

I'm joined by Dr. Jared Rubin, author of Rulers, Religion and Riches: Why the West Got Rich and the Middle East Did Not, to discuss these questions.

Music by Zobu.