Nobel Prize Laureate speaks on the importance of inclusive institutions for a nation’s prosperity at inaugural Right Honourable Brian Mulroney Speaker Series

James A. Robinson, 2024 Nobel Prize Laureate in Economics, delivered the inaugural address of The Right Honourable Brian Mulroney Speaker Series at StFX on Oct. 28, delivering an insightful and thought-provoking talk on how inclusive economic and political institutions matter to prosperity in a society.

Mr. Robinson, a globally renowned economist, political scientist, and co-author of the influential book Why Nations Fail, delivered the talk, "A Nation's Prosperity Relies on Its Institutions: The More Inclusive, the Better," before a packed crowd in the Barrick Auditorium in the Brian Mulroney Institute of Government.

StFX Chancellor, Dr. Mila Mulroney, along with sons Ben and Nicholas Mulroney, were in attendance
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The Right Honourable Brian Mulroney Speaker Series, with generous support from Barrick Mining Corporation and in recognition of Mr. Mulroney's long-standing role as Chairman of Barrick's International Advisory Board, builds on StFX's legacy of exploring the most pressing issues policy-makers face at all levels of government.

John Thornton, Chairman of the Board of Barrick Gold Corporation, spoke about Mr. Mulroney during the afternoon event.

"Brian was the rarest of politician. He was a person of conviction," Mr. Thornton said as he described Canada's 18th Prime Minister and StFX alumnus, the late Brian Mulroney, as a person who understood that to do big things, one had to think boldly. "That's why he sought the job (as prime minister) and that's what he did with the job," he said as he listed several of Mr. Mulroney's accomplishments including the North American Free Trade Agreement, Nelson Mandela and the campaign against apartheid in South Africa, and as a lifelong champion of the environment.

Mr. Mulroney had the intellect and the skill to think through ideas and the backbone, work ethic, and humour to see them through, he said. "If more leaders were like him, we'd be better off…It's in that spirit, we're bringing to the Mulroney Institute people, who like Brian, think independently and think big. James Robinson is just such a thinker. It's fitting he joins us as the first speaker in the series."

In his address, Dr. Robinson spoke on what causes economies to grow and what it is about human society that sees some areas have high levels of income and some not and the enormous consequences this has for people's lives.

There are vast differences in prosperity between nations. One important explanation for this is the persistent differences in societal institutions, he said.

Dr. Robinson drew on many sources during his remarks. His speech touched on a number of issues and examples, from the anti-liberal backlash that's been happening for the past number of decades in the United States to the transformational change in South Korea in one generation that saw the country change itself from a poorer nation to one with a leading standard of living.

Why? "Because it has built inclusive economic institutions."

Dr. Robinson said nations must have inclusive economic and political institutions to allow innovation to prosper. The creation and adoption of new technologies increase production. Along with inclusive economic institutions, "political power has to be broadly distributed in society," he said. "History shows you can't have inclusive economic institutions at the whim of narrow elites."

Dr. Mulroney thanked Dr. Robinson for his enlightening and thoughtful talk, as well as Mr. Thornton and Barrick for the speaker series. "I'm thrilled to say Brian's legacy is here for successive generations."

Mulroney Institute Director Dr. Lynda Harling Stalker also offered thanks to Dr. Robinson for his engaging, enlightening remarks and to Barrick for "what promises to be a wonderful speaker series."

Hosted by the Brian Mulroney Institute of Government, the speaker series brings distinguished global thinkers to engage students, faculty, and the broader public in meaningful debate and analysis. It forms a cornerstone of the academic and intellectual experience at StFX, encouraging diverse viewpoints and critical engagement with contemporary political challenges.