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Why Nations Fail: The Origins of Power, Prosperity, and Poverty

Product Description

Crown Business

Imported from USA

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?

Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?

Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one
of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra
Leone, are mired in poverty and violence?

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that
underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably
homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in
South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed
everyone to participate in economic opportunities.

The economic success thus spurred was sustained because the government became accountable and responsive to citizens and
the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very
different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that
created these completely different institutional trajectories.

Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the
Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United
States, and Africa to build a new theory of political economy with great relevance for the big questions of today,
including:

- China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?

- Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power
are resisted to a vicious one that enriches and empowers a small minority?

- What is the most effective way to help move billions of people from the rut of poverty to prosperity? More
philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s
breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world.

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