The major reason was that I wanted to understand why Nepal is poor and a nearly failing country and why other nations are rich and prospering. Summarizes and popularizes previous research by authors and many other scientists. “Why Nations Fail is a wildly ambitious work that hopscotches through history and around the world to answer the very big question of why some countries get rich and others don’t.” —The New York Times (Chrystia Freeland) "Why Nations Failis a truly awesome book. 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. We’d love your help. The lack of arguments and statements like: "Unlike in Mexico, in the United States the citizens could keep politicians in check and get rid of ones who would use their offices to enrich themselves or create monopolies for their cronies." I also felt that many of the examples they gave were anecdotal (which I suppose is the nature of these types of books) and perhaps even extreme situations that exemplified their theory. September 24th 2016 If the length of it looks foreboding, keep in mind that this volume is the culmination of 15 years of research, on a worldwide scale, by two ivy league professors of economics. I had been meaning to read this book for a very long time. "Extractive" political structures create an economy only to benefit the small ruling class (and therefore are extremely hostile to the wealth-creation of creative destruction, which can only harm the interests of this ruling class. In short, throughout history, small number of rich and powerful people have incentives to keep it that way. Why Nations Fail : The Origins of Power, Prosperity, and Poverty is an examination of the causes of economic inequality. With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. But you. The central thesis of this book is that nation fail economically because of their political institutions. It is very hard to extract their conclusions which are hidden away among the historical examples. Actually, I didn't really like WNF. Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012. Goodreads helps you keep track of books you want to read. Preview Why Nations Fail on Goodreads . The authors say all of these things are mutually reinforcing. These policies give a political voice to a large segment of the population, rather than only to a small elite. They do this by keeping the population misinformed (e.g. inevitable) process. It depends, there are middle income economies like Chile or Brazil that have inclusive institutions, maybe you can call them "in transition". This is an excellent book about the reasons why some nations are prosperous, while others are steeped in poverty. Goodreads helps you keep track of books you want to read. In many cases politicians stifle economic activity because this threatens their power base (the economic elite) – as in Argentina, Colombia and Egypt. by Crown Business, Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Such political institutions include fair and free elections, an independent judiciary, uncorrupt legislative and executive branches etc etc. I would give it 5 stars except it is very long, detailed, and not an easy read. English. As it turns out the two works are entirely complimentary, the work of Acemoglu and Robinson riding on top of Fukuyama’s. Those locations created dynamic human societies that gave rise to complex socio-political institutions, sophisticated languages, inventions, and so forth. Perhaps ignorance of what the right policies are? It discusses the main sections, pointing out the authors’ views and their weaknesses—for instance, they fail to mention that rich countries like the U.S. and the UK became rich in part through the exploitation of poorer countries and the use of slave labor. I remember the considerable energy the authors seemed to be putting into its marketing – the articles, the interviews, the debates, the blog, the proliferation of review copies. We may see these extractive/inclusive institutions as the medium through which nations can fail and can succeed, but I did not feel they adequately addressed how such institutions come about in the first place. Read Why Nations Fail: The Origins of Power, Prosperity and Poverty book reviews & author details and more at Amazon.in. It seemed like there was a concerted effort to get. I read this as part of the Mark Zuckerberg book club :) Why are some nations rich and some poor? Extractive political institutions support these economic institutions by cementing the power of those who benefit from the extraction.” Those locations created dynamic human societies that gave rise to complex socio-political institutions. Read 2 999 reviews from the world's largest community for readers. I'm not quite understand how to say about the middle income countries.? At the level-headed end of the spectrum is this review by Bill Easterly , which I thought very perceptive. It discusses the main sections, pointing out the authors views. Is it culture, the weather, geography? OCLC. Why Nations Fail is a well-written book and proposes a hypothesis about the prosperity and poverty of different nations. As a result, a set of checks and balances tends toward a positive feedback, sometimes called a "virtuous cycle". 14 phút. Why Nations Fail is a well-written book and proposes a hypothesis about the prosperity and poverty of different nations. “Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. However well worth it. --The New York Times (Chrystia Freeland) Why Nations Failis a truly awesome book. Is it geographical? It seemed like there was a concerted effort to get, I worked for an international affairs journal when this book was first released. The extractive and inclusive economic policy in the book is very convincing that the prosperity of a nation depends on policy choice (extractive or inclusive) of the elites to determine a rich and misery of that nation. 50 Big Ideas You Really Need to Know by Ben Dupre. This is definitely a book I will re-read, because with a first read you just get the basic argument, but with the second one you get all the subtleties. 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