Special Dialogue with Nobel Laureate in Economics
Professor Robinson: "The Korean Economy Is a Model of Success"
Mayor Oh: "Gained New Insights and Inspiration"
"A Milestone for Sustainable National Prosperity"
On August 21, Seoul Mayor Oh Sehun met with Nobel laureate in economics, Professor James A. Robinson, and stated, "Only inclusive institutions that allow broad participation can lead a nation to growth and prosperity," adding that this philosophy is reflected in Seoul's policies supporting the underprivileged. Professor Robinson, who researches the relationship between politics and economic growth and national prosperity, has often cited South Korea as a successful model.
On this morning at Seoul City Hall, Mayor Oh held a discussion with Professor Robinson on the theme of 'national growth,' introducing key welfare policies such as 'Companion with the Underprivileged,' 'Stepping Stone Income,' and 'Seoul Learn.' He emphasized, "A society where inequality does not end in frustration but leads to renewed challenges-that is the path to prosperity I believe in."
Prior to the discussion, Professor Robinson delivered a TED-style lecture-limited to 18 minutes per talk-sharing his views on 'Korea's Economic Development and the Importance of Democracy.' Professor Robinson, currently a political science professor at the University of Chicago Harris School of Public Policy, was awarded the 2024 Nobel Prize in Economics for his contributions to the understanding of institutional formation and its impact on national prosperity.
Professor Robinson assessed, "Korea's economic growth was made possible thanks to inclusive economic and political institutions." He further stated, "For Korea to continue to prosper, it must consolidate democracy domestically and strengthen democratic alliances with other nations externally."
Mayor Oh and Professor Robinson engaged in a discussion focused on 'institutions for sustainable growth and prosperity.' Mayor Oh underscored, "At the foundation of Korea's prosperity was the assurance that challenges would be rewarded justly," adding, "This policy philosophy underpins Seoul's initiatives for the underprivileged, such as Stepping Stone Income and Seoul Learn."
Stepping Stone Income, which is positioned as a ladder for upward mobility, is a policy that provides partial income support to low-income households. It is a welfare system in which those with lower incomes receive greater support. Now in its fourth year, Stepping Stone Income is recognized as a future-oriented social security model with sustainability. Seoul Learn, which offers high-quality online lectures and mentoring free of charge to students from vulnerable groups, has also been highlighted as a structural solution to educational inequality.
On this day, Professor Robinson provided detailed answers to questions about his analysis of the factors behind Korea’s success as mentioned in his book "Why Nations Fail," warnings against populism, and his vision for the future of South Korea and its younger generation. During the Q&A session, participants asked Professor Robinson about "strategies to address future societal challenges due to population decline" and "national development strategies in the AI era," while Mayor Oh was asked about "the type of welfare-selective or universal-that is necessary for national growth."
Mayor Oh stated, "The deep insights I have gained from Professor Robinson's books while pursuing the path to urban and national prosperity have become the foundation for Seoul's policies supporting the underprivileged," adding, "I believe today's discussion has provided new insights and inspiration for all participants, including myself, and I expect it will serve as a milestone for sustainable national prosperity."
Meanwhile, Professor Robinson is scheduled to attend the '2025 Seoul International Stepping Stone Income Forum' hosted by the Seoul Metropolitan Government this December as a keynote speaker, where he will give a presentation on 'Policy Mechanisms Responding to Socioeconomic Environmental Changes: Stepping Stone Income.'
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