James Robinson on Latin America's Development Challenge, Institutions, and the Nobel Prize

Why do some countries succeed while others remain trapped in cycles of weak institutions and slow development?In this episode of the Oxford Policy Pod, hosts Cecilia Esteche and Diego Peñaranda speak with Professor James Robinson, 2024 Nobel Memorial Prize laureate in Economic Sciences, Professor at the University of Chicago, and co-author of Why Nations Fail and The Narrow Corridor.The conversation explores Robinson's intellectual journey, his reflections on winning the Nobel Prize, and his latest research on what he calls the "Fundamental Imbalance" in Latin America—the persistent tension between ambitious institutional ideals and the realities of implementation.Together, they discuss why good policies often fail, how institutions shape development, the relationship between culture and political economy, Bolivia's current political and economic challenges, and what future policymakers can learn about building more inclusive societies.