Why Nations Fail

Political and Social Sciences

ISBN: 13 : 978-0307719225

Book Description

This contemporary classic written by two well-regarded economists, Daron Acemoglu and James Robinson, tackles a digestible project to explain a new institutional school in the field of Political Economy and Development Studies. This book, as the title connotes, is a synthesis of Acemoglu and Robinson’s decades of research efforts to understand many institutional failures to achieve global development programs in Third world countries. But this book takes a multi-
disciplinary approach as it explains the emergence of prosperity and poverity through; climate, geography, culture, religious, race, or the political system of a nation.

The book somehow subscribe to liberal perspective of development. It focuses on the equitable inclusivity of all people, not the exclusive conclave of the elites. Acemoglu and Robinson support their thesis by comparing various case studies. They identify countries that are similar in many of the above-mentioned factors, but because of different political and institutional choices become more or less prosperous. The most incisive example is Korea, which was divided into impoverished North Korea and the progressive capitalist South Korea.

This book prepares a 21st century treatment for national development on economic and technological progress. The authors called their phenomenon as the sustainable development, this function must be present in all progressive societies. The author argued, instead, the realities faced by the advanced industrial north. There is a polarizing concept in this dilemma. The authors explain extractive economic institutions that favors the upper class and the economic elites. Extractive institutions often sacrifice large segments of the population from the distribution of wealth from their own activities.

It prevents everyone except the elite from benefiting from participation in economic affairs. Thus, these non-democratic mechanism hamper any meaningful possibility for inclusive nor sustainable economic development. The authors prescribe to the power of democracies, freedom, and universal human rights institution fostering the growth. Inclusive economic institutions should be normalize for sustainable development.

Higher Density Living encourages everyone to grab used physical copies as much as possible. This way we advocate reuse and recycling of old published papers/or books to reduce deforestation. You can purchase the book at Amazon Online, Abebooks, Ebay, or any physical bookstores near you.

Why Nations Fail
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