Bengaluru, Nov. 3 -- Renowned economist and author James Robinson today described the current global situation as a "crisis of the liberal model of prosperity and progress," arguing that humanity stands at a historic inflection point where the world must imagine new, more egalitarian models of development.
Delivering an engaging presentation at the Nobel Prize Dialogue organised by TATA Trust and Nobel Prize Outreach,Robinson traced the intellectual evolution of liberal thought from the Scottish Enlightenment to the present day. Beginning with the ideas of Adam Smith and Adam Ferguson, he termed their vision a "one-way street model" - a belief that societies advance only by emulating Western institutions and values.
He noted that for over...