📖 peek insideWhy Nations Fail
by Daron Acemoglu and James A. Robinson
Why are some nations rich while others are poor? Acemoglu and Robinson argue that the answer lies not in geography, culture, or weather, but in institutions. They distinguish between inclusive institutions, which foster economic growth and innovation, and extractive ones, designed to extract wealth from the many for the benefit of the few. Using historical examples ranging from the Roman Empire to modern-day North Korea, the authors provide a compelling framework for understanding the political and economic forces that shape the modern world.
A popular book with millions of readers worldwide.
Notable Quotes
"As we will show, poor countries are poor because those who have power make choices that create poverty."
"Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. It is the political process that determines what economic institutions people live under, and it is the political institutions that determine how this process works."
"Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic growth and political change and those wishing to limit the economic and political power of existing elites."
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