Why Nations Fail is easy to read, with lots of interesting historical stories about different countries. We’d love your help. Even more recently there has been little progress toward inclusive economic institutions, and as we saw in chapter 13, twenty-first-century Argentinian governments can still expropriate their citizens’ wealth with impunity. This book begins with quotes from some of the young protesters who helped bring down the Mubarak regime in … Is it culture, the weather, geography? As we will see many times in this book, economies based on the repression of labor and systems such as slavery and serfdom are notoriously noninnovative. — P.251, After repeated failures, in 1807 the abolitionists persuaded the British Parliament to pass a bill making the slave trade illegal. Description :-Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? The reason that Why Nations Fail is not to be missed is that their thesis pulls apart the two big brute facts of global development. My last post summarized the main idea of Acemoglu and Robinson’s book ‘Why Nations fail’. Second, contrary to the claims of modernization theory, we should not count on authoritarian growth leading to democracy or inclusive political institutions. The real direction of the plan develops only after the putting together of the plan.” Stalin wanted to maximize his discretion to reward people or groups who were politically loyal, and punish those who were not. None of these factors is either definitive or destiny. Simply, no. In addition, once all the very inefficiently used resources had been reallocated to industry, there were few economic gains to be had by fiat. The first is the distinction between extractive and inclusive economic and political institutions. Why Nations Fail: A Summary – ReviseSociology Why Nations Fail: The Origins of Power, Prosperity, and Poverty, first published in 2012, is a book by American economists Daron Acemoglu and James Robinson.Summarizes and popularizes previous research by authors and many other scientists. Of these, 15 million were sent to prison and 250,000 were shot. Not any Democrat, under any circumstances. --George Akerlof, Nobel laureate in economics, 2001 Why Nations Fail is so good in so many ways that I despair of listing them all. . Posts about Why Nations Fail written by 4rchbishop. In their book Acemoglu and Robinson theorise that the reason for global inequality is that one of two sets of institutions dominates in a country and to a large extend determine whether it is rich or poor: either inclusive institutions or extractive institutions. Simply, no. "Why Nations Fail" is intended for a general audience, but unfortunately the professors have not made the smoothest of transitions. Quotes from Why Nations Fail:... “Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. Welcome back. An important aspect of this is that property rights are not entirely secure in China. It explains huge swathes of human history. Is it culture, the weather, geography? James A. Robinson (born 1960) is a British economist and political scientist. Maxym Sergiyovych has quoted 5 years ago. China, Russia, and several other authoritarian regimes currently experiencing some growth are likely to reach the limits of extractive growth before they transform their political institutions in a more inclusive direction—and in fact, probably before there is any desire among the elite for such changes or any strong opposition forcing them to do so. They also left the world the AK-47 as one of their legacies. The second is our explanation for why inclusive institutions emerged in some parts of the world and not in others. The section below is arranged in alphabetical order of the respondent's first name. The theme of this book includes: In the United States, for example, the northern states took part in the Industrial Revolution, not the South. Growth thus moves forward only if not blocked by the economic losers who anticipate that their economic privileges will be lost and by the political losers who fear that their political power will be eroded. 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