Have nations become richer because of other nations? Did Western countries gain wealth through imperialism? Noah Smith I say no. But why not? In this episode, EconTalk host Russ Roberts welcomes Smith to discuss these questions, based in part on: Works published by Smith on his Substack. Smith told Roberts that when most people think about looting, they generally think: colonial Looting. But the problem with that is that much of the world's enrichment has happened in the past 150 years, after most colonial empires collapsed. Listen as Smith marshals the evidence explaining why plunder is not, and never has been, the path to national wealth.while plundering maybe create a nation (or people) richerit doesn't make them richAnd that's an important distinction for Smith.
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1- Smith and Roberts discuss the relationship between plunder and the following concepts: extraction. Why consider extraction? do not have Is there a useful way to think about a country's wealth? What has been the experience of major European countries in this regard?
2- Smith believes that many of today's wealthiest countries are do not have Empire.Meanwhile, both Britain and France advanced in industrialization. and It had a vast colonial empire. So why did they industrialize, Smith asks? To what extent did they have a colonial empire? How does Roberts' distinction between stocks and flows help answer this question?
3- Naturally, the conversation goes like this: 1619 project, (infamous) declared that slavery was the cause of economic growth. According to Roberts and Smith, what's wrong with this argument? (Note: See also below for a very thorough discussion of criticisms of the 1619 project) “Liberty Matters” in this issue led by Phil Magness)
4- According to Mr. Smith, how has the nature of globalization changed in recent decades? What role does nationalism play in global trade policy today, and why does Mr. Smith Are you concerned that the „new normal“ of globalization is under threat, even as you hint at its dangers? protectionism Are you a minor?
5- Roberts finally asks Smith if he is optimistic or pessimistic about the future. What are his reasons for optimism? And to what extent do you agree with Smith about the potential for a new wave of globalization, particularly around Asia? Should we be more worried about climate change or war, and why?