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Countries with better institutions are more prosperous. A truism perhaps, but then why are they so hard to build and sustain? That is the question that Simon Johnson has sought to explain since the fall of communism and the basis for the research that won him the 2024 Nobel Prize in Economic Sciences. Johnson, a former IMF chief economist, now a professor at MIT in the Sloan School of Management, shares the award with James Robinson and Daron Acemoglu, who’s also coauthor of his latest book Power and Progress, which challenges the assumption that technology equals progress. In this podcast, Johnson says when controlled by a select few, tech innovation can be self-serving and risk undermining the institutions that make it possible. Transcript
As urbanization continues to grow worldwide, affordable housing is a rare commodity in many cities. São Paulo, South America’s biggest city, has gained over 2 million new residents in the past decade alone. Elizabeth Johnson heads Brazil research at TS Lombard and has been studying São Paulo’s latest attempt at strengthening its housing strategy. In this podcast, Johnson says the city looked to its largely abandoned downtown core to address its housing woes. Transcript
Read the article in the IMF's Finance and Development Magazine
While housing markets play a significant role in economies, new research shows houses across 40 countries are less affordable than at any time since the 2008 financial crisis. IMF economist Deniz Igan helped develop the Housing Affordability Index. In this podcast, she says the pandemic triggered an unusual sequence of events that housing markets around the world are still struggling to correct. Transcript
Read the article in the IMF's Finance and Development Magazine
