Bengaluru, Nov. 4 -- US President Donald Trump is a response to institutional failure; he is not the source of institutions weakening, says James A. Robinson, co-winner of the Economics Nobel 2024. Known for his pioneering research on how institutions are formed and how they determine prosperity, Robinson is in India for the Nobel Prize Dialogue 2025, a series of talks that brings together Nobel laureates, policy makers and thought leaders to discuss global issues, in partnership with Tata Trusts.

The laureate described the current global situation as a "crisis of the liberal model of growth" and said we need to reimagine more inclusive models of development. He also believes that the next inequality shock is coming-artificial intelligen...