Why Nations Fail

By Daron Acemoglu, James A. Robinson

Categories: Business & Money

Economist Daron Acemoglu and political scientist James A. Robinson ask why some nations grow rich while others stay poor. Their 2012 book argues that the answer lies not in geography, culture or climate but in institutions. Inclusive institutions, which spread power and protect property, encourage innovation and growth; extractive ones concentrate power in a small elite and hold countries back. The authors build the case with history, from the divided city of Nogales on the U.S.–Mexico border to ancient Rome and the Soviet Union.

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• Mark Zuckerberg
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• Jared Diamond: “It's a great read. Like me, you may succumb to reading it in one go, and then you may come back to it again and again.”
• David Heinemeier Hansson: “It's a little slow to get going, but once you get rolling it's hard to put it down.”