Why are some nations richer?

In this podcast episode, we delve into the complex ties between colonialism, institutional development, and economic growth. It reveals how varying settler mortality rates shaped the creation of either extractive or inclusive institutions in different regions. The discussion highlights that although colonialism inflicted significant harm, the type of institutions established—often correlated with democratic stability—plays a vital role in determining long-term economic success. While examining current threats to democracy in the US, the episode emphasizes the necessity of preserving strong and inclusive institutions for future prosperity.