It’s clear states, borders, and countries constantly evolve. But how do countries form? And what does it take to start a new one?

In this episode, Michael interviews Erick Brimen, founder of Prospera, a project dedicated to creating Special Economic Zones that foster economic growth through free-market governance.

Brimen shares insights into the challenges of governance in developing nations, lessons learned from Venezuela’s economic collapse (despite the country having the world’s largest oil reserves), and successful governance models in places like Dubai (a small desert fishing and pearl diving village until the early 1970s) and Hong Kong (under British rule until 1997).

William Green delves into the lives of iconic investors like Buffett, Munger, and Templeton, unraveling how their approaches extend beyond financial success. These super-investors possess unique skills such as rigorous thinking, resilience, and intuition. Through years of interviews, Green reveals how their principles can improve decision-making, manage risks, and help us thrive in uncertain environments.

William Green has written for top publications like Time, Forbes, and The Economist, and edited Time’s Asian and European editions. He coauthored several books, including Guy Spier’s The Education of a Value Investor. Born in London, he studied English at Oxford and earned a journalism master’s at Columbia. Now based in New York, he lives with his family. His latest book is Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life.

Shermer and Green discuss the financial literacy of Americans, the mechanics of wealth creation, and the psychology behind investment decisions. They cover the stock market, the importance of resilience, and the relationship between money, happiness, and luck. The conversation includes wisdom from legendary investors, the power of compound interest, and practical strategies for financial independence.

In the U.S. alone, more than $400 billion are donated to charity each year—equivalent to two percent of American GDP. This generosity is wonderful, but these gifts don’t do nearly as much good as they could. In recent years, researchers have started studying the effectiveness of different charities, just as investors study the effectiveness of different companies. These researchers ask questions like: How much money does it cost for this charity to save someone’s life? The answers are stunning. Charity experts estimate that the most effective charities are about 100 times more effective than typical charities. For example, you can do more good by donating $100 to a highly effective charity than by donating $10,000 to a typical charity.

Shermer and Greene discuss effective altruism, evidence-based philanthropy, and GivingMultiplier’s unique model for maximizing charitable impact. They explore moral judgment theories, from deontology to consequentialism, and delve into complex topics like donor fatigue, public vs. private solutions, abortion, capital punishment, and political polarization. Greene shares practical insights into addressing societal divides and inspiring collective action.

Joshua Greene is a Professor of Psychology at Harvard, where he teaches “Evolving Morality: From Primordial Soup to Superintelligent Machines,” one of the university’s most popular courses. He is also the author of Moral Tribes: Emotion, Reason, and the Gap Between Us and Them, which integrates moral philosophy, psychology, and neuroscience to explain the underlying causes of modern conflict. Josh’s latest applied research has led to novel, evidence-based strategies for reducing political animosity and inspiring thousands of people to support nonprofits addressing extreme poverty, climate change, and other pressing societal issues. His new organization is GivingMultiplier.org.