Oh Se-hoon, Special Dialogue with Nobel Laureate Professor Robinson... "Inclusive Democracy Must Continue"

[Financial News] Mayor Oh Se-hoon of Seoul had a dialogue on the theme of 'national growth' with last year's Nobel Laureate in Economics, Professor James A. Robinson. Professor Robinson, who studies the relationship between politics and economic growth and national prosperity, often mentions Korea as a 'success model'.
Seoul City announced that it held a special dialogue 'Path to Sustainable Prosperity' on the 21st. Many citizens watched the dialogue through the real-time broadcast on Seoul City's YouTube channel, including over 100 on-site participants such as students using Seoul's representative education welfare policy 'Seoul Learn' and their university mentors.
Professor Robinson, who is a political science professor at the University of Chicago's Harris School of Public Policy, has won the 2024 Nobel Prize in Economics for his contributions to 'the formation of institutions and their impact on national prosperity'. Before the dialogue, Professor Robinson expressed his views on 'Korea's economic development and the importance of democracy' through a TED-style lecture.
Professor Robinson emphasized, "As an economist, when I look at Korea's remarkable growth experience, I think from the perspective of 'innovation'," and "What makes individuals and society capable of innovation is 'inclusive institutions'." He particularly pointed out, "It is important to maintain inclusive institutions and continue to adapt to changes," and "The problems the United States is facing today are also a result of institutions failing to adapt to the changes that have occurred in the world over the past 50 years."
Mayor Oh and Professor Robinson had a dialogue centered on 'institutions for sustainable growth and prosperity'. Mayor Oh stated that the concept of 'shared prosperity' advocated by Professor Robinson is also reflected in Seoul City's 'Companion with the Weak' policy. Mayor Oh explained, "Moderate inequality can be an energy that stimulates competition, but a society without a second chance is neither healthy nor easy to develop," and "Restoring the ladder of class mobility to revive social energy is the utility of 'Companion with the Weak'."
Professor Robinson agreed, "Many political problems occurring in the United States fundamentally stem from the collapse of 'shared prosperity' over the past 50 years," and "Especially those who did not go to college or dropped out of high school have fallen far behind in terms of living standards, and this does not simply end as an income issue."
There was also a dialogue on populism, a recent political and social topic. Professor Robinson analyzed, "According to political scientist Samuel Huntington, when democracy spreads like a wave, a backlash comes 30-40 years later, and the disappointment that comes in between is filled by populism," and "Increasing the execution power of democracy and showing that it is actually effective is the best antidote to populism."
Mayor Oh emphasized, "As a politician, I inevitably have some populist aspects," but "The problem is the degree. After taking power, there should be no policies that undermine future competitiveness and wrap them with sincerity."
Professor Robinson will also attend as a keynote speaker at the '2025 Seoul International Stepping Stone Income Forum' hosted by Seoul City in December. He will give a presentation on the theme of 'Policy Mechanisms Responding to Socioeconomic Environmental Changes, Stepping Stone Income'.
Mayor Oh said, "The deep insights gained from Professor Robinson's books during the long process of pursuing the path of urban and national prosperity have become the foundation of Seoul City's Companion with the Weak policy," and "I think today's dialogue has provided new insights and inspiration to all attendees, including myself, and I expect it to become a milestone for sustainable national prosperity."

chlee1@fnnews.com Lee Chang-hoon reporter