Speaker 1: Bloomberg Audio Studios, podcasts, radio news, single best Idea and
Speaker 1: today we celebrate the Nobel Prize. Okay, full disclosure. Darren
Speaker 1: Asimoglu with James Robinson wrote a book on growth fifteen
Speaker 1: years ago. I've not read it cover to cover. It's
Speaker 1: like eight hundred pages. And I did what a lot
Speaker 1: of people did. I dipped into it and I interviewed
Speaker 1: Professor Smogluo on it and it's all great and will
Speaker 1: but I didn't read the book. I have read the
Speaker 1: books of Simon Johnson. Simon Johnson is a high energy
Speaker 1: kinetic economist out of Oxford, Manchester and of course iconic
Speaker 1: at the Massachusetts Institute of Technology in today to see
Speaker 1: ASIMOGLUO and Johnson of MIT and James A. Robinson Chicago
Speaker 1: all writing together. There's a new book out from US
Speaker 1: and Mooglow and Johnson. I'll talk about that here in
Speaker 1: the coming weeks. But for them to win the Nobel
Speaker 1: Prize and the answers why they own the cottage industry
Speaker 1: of trying to figure out prosperity and technology and yes,
Speaker 1: with A and I it's front and center, but frankly,
Speaker 1: for these three academics it's been front and Center for decades.
Speaker 1: Simon Johnson on technology.
Speaker 2: I think technology drives everything. Tom, You're well aware of that.
Speaker 2: And the question is who's technology, Who has what priority?
Speaker 2: What's that vision? Is it an inclusive vision or is
Speaker 2: it a vision which only a few people have good
Speaker 2: jobs and everybody else is really scrambling. That's been super
Speaker 2: important over last two and fifty years. We've had some
Speaker 2: good episodes and some really bad ones, and I think
Speaker 2: it's all in play again with artificial intelligence.
Speaker 1: An extended conversation today with a gentleman for the Massachusetts
Speaker 1: Institute of Technology. He took his PhD with the iconic
Speaker 1: Rooty durn Bushy single handedly changed international economics and foreign exchange.
Speaker 1: We continued our discussion with Professor Johnson here on the
Speaker 1: path forward for prosperity and em.
Speaker 2: I suggest we think about it in two ways. One
Speaker 2: is the sort of deep history and recognize that we've
Speaker 2: all got these legacies that we're living with, and some
Speaker 2: of these legacies, particularly if you were colonized in a
Speaker 2: harsh way by the Europeans, that's a very tough legacy
Speaker 2: to overcome. But the second thing is there's no predestination.
Speaker 2: It's all about the choices that you make, including technology
Speaker 2: that we just talked about. If you're in the United States,
Speaker 2: but around the world, I would point to corruption. I mean,
Speaker 2: corruption has been, as you guys know, talked about a
Speaker 2: lot over the past thirty forty years. But what do
Speaker 2: we have. We still have immense amounts of corruption. And
Speaker 2: there's two side set. There's the people who pay the
Speaker 2: bribes and the people who take the bribes, and that's
Speaker 2: a big part of what holds a lot of countries
Speaker 2: deeply in the poverty that you see today. But I
Speaker 2: think the key thing, it may you sound like a
Speaker 2: rhetorical device, Tom, but it's real, is focus on inclusive prosperity.
Speaker 2: How you get more good jobs created for more people
Speaker 2: and make sure they can access those jobs, make sure
Speaker 2: they have the skills, make sure they are empowered themselves,
Speaker 2: and they recognize that. So the bumper sticker for me
Speaker 2: out of all of this is more good jobs.
Speaker 1: Finally, Simon Johnson in this conversation, and I had to ask,
Speaker 1: of course, s John Mickelthwaite speaking with mister Trump tomorrow
Speaker 1: in Chicago. Here is Simon Johnson lecturing at Sloan on tariffs.
Speaker 2: Oh, I don't look, if you want to blow up
Speaker 2: the world, in the world treading system and really damage
Speaker 2: poorer Americans, slap a massive tariff on all the important because,
Speaker 2: as you know, poor Americans spent a lot on things
Speaker 2: that have important content. So massive tariff war. Terrible idea, right, the.
Speaker 1: Nobel Laureate Simon Johnson. What an announcement Today, We're on YouTube.
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Speaker 1: Professor Johnson took a tour of duty at the International
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