In Some Places, the More Things Change the More They Don’t.

Trading Perspectives: An Economic Podcast

With China as the most notable exception, the world’s richest countries 25 years ago are still largely the richest. Similarly, the world’s poorest countries at the start of the century are still at the bottom of the list. The same could be said for U.S. states. Why is this? Why do some countries and economies continue to thrive and others languish? Why do some have spurts of growth before petering out? How do some economies without any natural resources perform so well while others with an abundance dramatically underperform? Why are the disparities a constant? Why do some areas embrace change and others don’t? After all, change is necessary for inclusive, sustainable growth.

In this week’s Trading Perspectives, Sam Clement and John Norris discuss why rich countries seem to stay rich and poor countries remain poor. Is there a magic formula for success? And what is the anchor holding people back