Why some nations reach economic success and others don’t

Joel Mokyr won the 2025 Economics Nobel as a historian of scientific ideas

Many Nobel Prizes for Economics go to economists for their sophisticated quantification and large-scale studies and surveys. And while Northwestern's Mokyr has conducted such studies, his published works are more traditional history, where he argues for the significance of ideas to the development of material economics.

Winning a Nobel in economics takes decades of impact and a Swedish stamp of approval

The Nobel Memorial Prize in Economic Sciences isn’t one of the original five prizes in Alfred Nobel’s will but was added by Sweden’s central bank in 1968. Candidates are nominated by top economists, with a focus on lasting academic influence.

Nobel Prizes in science have heavily favored male, North American, and European scientists

Most science laureates come from established academic institutions, and limited outreach and nomination rules have biased against researchers from low- and middle-income countries. As of 2024, China ranks among the world’s top scientific contributors, but has only won 10 Nobel Prizes in the sciences.

Adam Smith’s 'The Wealth of Nations' introduced concepts like division of labor, productivity, and free markets

Published in 1776, "The Wealth of Nations" is an influential economic work that laid the foundation for modern economic theory. Smith argued for limited government intervention and touted the benefits of self-regulating markets.

John Maynard Keynes was one of the most influential economists of the 20th century

Keynes influenced economic thought by arguing that governments should spend to stabilize economies during downturns. His ideas shaped the postwar international order and remain central to modern economic policy debates.

Affluence largely influences where Michelin stars are awarded

Countries with high GDP are the most highly decorated with Michelin stars. As this 2024 in-depth statistical analysis notes, though, that appears to be changing, with the Guide beginning to recognize other areas of the globe.

An economist answers questions about love

Economists aren't exactly known for their dating advice. But as it turns out, economics experts can offer fresh perspectives to everyday romantic quandaries. On this podcast episode, economist Tim Harford answers listeners’ relationship quandaries, from paying for a first date to alternatives to saying, "I love you." Listen to the episode here.

The disparity in life expectancy between wealthy and impoverished nations has notably narrowed

In 1950, people in Norway lived to age 72, on average, while those in Mali lived to just 26. By 2015, the countries with the worst conditions had made such significant progress that the global average life expectancy had surpassed the rate of any nation in 1950.

Eleven of modern history's greatest investors

The greatest investors have all made a fortune off of their success and, in many cases, have helped millions of others achieve similar returns. Read about the lives and approaches of Carl Icahn, Warren Buffett, George Soros, and more.

How chaos helps explain why small market corrections can produce major economic instability

Oxford University complex systems professor Doyne Farmer discusses how predictions from many economic models are overly weighted toward simple relationships, such as supply and demand, and external shocks, such as the COVID-19 pandemic. However, real-world macroeconomic systems involve public and private actors interacting, producing feedback loops and cascading effects that resemble the oscillatory behavior seen in chaotic systems.

Research suggests that lottery winners tend to be happier than those who lost

Despite this host's attempts, it seems unlikely to prove that money buys happiness. However, there are interesting studies that suggest increased wealth can, on average, improve one's satisfaction.

Ray Dalio argues that American capitalism is broken, citing economic factors like a growing wealth divide

Dalio also points to stalling income growth, weak healthcare systems, and poor educational outcomes when arguing that American capitalism needs serious reform. However, critics point out that Dalio has amassed a large fortune by running the world's largest hedge fund and question whether Dalio really wants economic reform.

Network effects are the economic term for a good or service's popularity

When goods or services become especially popular, firms that provide that good or service become dominant in the market—which can ultimately lead to a monopoly.

How public policy shapes demographic trends

This IMF podcast explores the population booms and busts throughout human history. According to Harvard economist and demographer David Bloom, it took more than 50,000 years for the world population to reach 1 billion. But since 1960, we have added...

Some scholars consider the Bretton Woods system one of the best foreign policy decisions in US history

A survey of historians by the Council on Foreign Relations ranked the creation of the Bretton Woods system among the top 10 foreign policy decisions in US history, highlighting its role in establishing postwar stability, prosperity, and decades of economic growth.

The best predictor of success.

Leaving a high-flying job in consulting, Angela Lee Duckworth took a job teaching math to seventh graders in a New York public school. She quickly realized that IQ wasn’t the only thing separating successful students from those who struggled. Here, she explains her theory of “grit."

Why humans survived and smarter species did not

This interview with Joseph Henrich, a renowned professor of human evolutionary biology, unpacks human history. Henrich shares interesting information about why humans succeeded as a species (the answer isn't IQ), how cultural evolution works, why the human brain is shrinking, and how the Catholic Church played a role in the Industrial Revolution. Listen and watch for a deep dive into human evolution.

Taiwan's economic history, analyzed

See how the global economic power evolved from the colonial period to today, including charts and graphs highlighting China's progress, especially in recent decades.

Environmental determinism links human traits and societal progress to geography

Also known as climatic determinism, the theory states that the latitudes where people are located influence their emotional and intellectual capabilities. Originating in Ancient Greece, these ideas were used throughout history to justify racial hierarchies.

A story of upward mobility

What role did the neighborhood you grew up in have in shaping your economic opportunities? Author Aaron Williams tells a data story about migration, community, and returning to your roots.

On the role of 'Citizenship In A Republic'

After finishing a Smithsonian-sponsored expedition to East Africa, US President Theodore Roosevelt stopped by Paris and gave a speech about the responsibilities an ordinary citizen has to their republic. Citizens must know there is no effort without error, knowing they "fail while daring greatly" in pursuit of a truly democratic republic. This podcast series on powerful speeches across history is written and narrated by historian and author Jon Meacham.

The world's most (and least) corrupt countries

The annual index measuring every country's relative levels of corruption. In 2022, Denmark earned the top spot for transparency, with Sudan, Syria, and Somalia identified as having the highest levels of corruption in the public sector. The rankings...

In 2017, researchers won a Nobel Prize for their work controlling fruit fly circadian rhythms

This detailed circadian rhythm infographic breaks down a day in the biological life of a fly, providing a peek at some of the groundbreaking work that elicited a Nobel Prize in Physiology or Medicine.

Dr. Martin Luther King Jr. shifted his focus toward economic justice in his final years

In the late 1960s, Dr. King increasingly emphasized economic inequality, labor rights, and poverty, culminating in the Poor People’s Campaign, which argued that civil rights gains were incomplete without financial security.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

‘A Spirit of Dialogue’ is the theme of Davos 2026

Each year, Davos introduces a new overarching theme to guide the discussions at the event. The 2026 World Economic Forum theme is intended to spark conversation around global challenges including cooperation in a contested world, investing in people, deploying innovation responsibly at scale, building prosperity within planetary boundaries, and more.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Explore a list of the 100 best novels of all time, compiled by some of the world's best living writers, including Salman Rushdie, Stephen King, and Jennifer Egan.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.

Three Ebola species are responsible for most large outbreaks of the disease, yet the only approved Ebola vaccine is known to work against just one of them.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Crows are believed to have intelligence on par with a seven-year-old child and demonstrate complex behaviors, from problem-solving with tools to recognizing human faces.

Mid-century modern graphic designers, known for their bright colors and bold lines in advertising, also found success with children's books.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

In preparation for this weekend's Eurovision finale, which is something like the World Cup of pop music, here's a young Céline Dion performing (for Switzerland?) at the 1988 competition.

Quincy Jones' 'Big Band Bossa Nova' helped introduce bossa nova—a jazz-influenced Brazilian genre—to the US

El Niño, Spanish for 'the boy,' was named after Jesus Christ because the phenomenon resembled the weather changes observed around Christmastime.