The arc of human history is a story of economics. Social values, human behavior, and the defining events of history are all woven into this field that seeks to explain how and why societies prosper — and why they often don’t.

Today on Political Economy, I talk with Andrew Leigh about the economic lessons we miss in history class and what we gain from a basic understanding of how our economy works.

Leigh is a member of the Australian House of Representatives and serves as the Assistant Minister for Competition, Charities, and Treasury.

His 2024 book, HowEconomics Explains the World: A Short History of Humanity, is the latest of his 11 books on economics, leadership, and public policy.