Abstract
A Review Essay on Why Nations Fail: The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A. Robinson (Random House, 2012)
Highlights
The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A
There is a striking correlation between GDP and a state’s stability (Figure 1); poorer nations are likely to have states that fail to meet the needs of their people and are at greater risk of collapse. The causes of these global inequalities are the subject of the new book, Why Nations Fail, by Daron Acemoglu (Professor of Economics, Massachusetts Institute of Technology) and James A
I shall return to these alternative explanations later, but I shall first outline the role institutions play in creating economic growth according to A&R
Summary
The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A. Despite A&R’s focus on historical contingency and path dependence, their theory is logically compatible with other ideas that stress the role of other factors that drive the evolution of inclusive institutions, favouring their development in some regions but not others.
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