Abstract
“Why Nations Fail: The Origins of Power, Prosperity and
Poverty” is an impressive book by Daron Acemoglu and James A. Robinson.
In this book, the authors attempt to solve the longstanding puzzle that
why some nations, such as the United Sates, Great Britain, Germany, etc.
are rich today, and why the others, such as Zimbabwe, Ghana, Egypt, etc.
are poor. The authors show with the help of substantial historical
evidence that man-made economic and political institutions matter for
the vast differences in the level of economic development among
countries. They argue history is the key to understand the difference
and evolution of economic and political institutions in different parts
of the world. During historical evolution of the institutions, small
differences and contingency (e.g., Black Death) matter a lot. According
to them, it is not the geography, culture, weather or the choice of
wrong policies that make countries rich or poor but it is the
institutions that make countries rich or poor.
Publisher
Pakistan Institute of Development Economics (PIDE)
Subject
Development,Geography, Planning and Development
Cited by
13 articles.
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