Macro N Cheese

** We’ll be discussing this episode on Tuesday, January 13th (8 pm ET/5 pm PT) in our online gathering, Macro ‘n Chill. We’ve invited Erald Kolasi to join us. So bring your questions. Register here: https://us06web.zoom.us/meeting/register/aYopZXEIQ9SPN9gQL2ajXQSteve welcomes back Erald Kolasi, physicist-economist, author, and friend of the podcast. Erald is here to do a demolition job on “institutional” development fables like Acemoglu & Robinson’s Why Nations Fail. He argues that by treating good institutions as the master key (inclusive vs. extractive) they smuggle in a liberal moral scoreboard while dodging the real motors of history: power, class struggle, imperial systems, and material constraints like energy, trade dependence, war, and ecological shocks.To “steelman” Acemoglu and Robinson’s position, Erald uses their favorite showcase case – North vs. South Korea. He lays out their comparison of the “tyrannical dictatorship” vs the “open” society and presents their explanation for these differences