This book reset my perspective of world history and the dynamics of societal success and failure.
Full of interesting facts and historical anecdotes, but it struggles to piece those together into an extremely compelling or convincing framework. Somewhat vague as to the definitions of its own key ideas. For all that, an enjoyable look at the economic and political history of nations.
was OK, cool premise but got old and repetitive. would have liked more nuance and discussion
Interesting theory's. No one can disagree that extractive institutions are extremely harmful.
However the book is full of availability biases (authors should read Daniel Kahneman and Nassim Taleb's books).
Authors were also proved completely wrong about Brazil's Lula trajectory. His government were an extreme version of extractive institutions under a skin of pluralistic marketing.
The most important contribution the authors could have made was not covered: how to identify (at present) which are and are not extractive institutions. Of course, there is no definitive answer.
Very enlightening. It really helps understand why nations fail. The book is s bit too long and hard to follow in audio. Suggest a condensed version in audiobook.
Anybody interested in the policy steps necessary to improve growth and social mobility within developing countries should read this book. It identifies the main underlying determinants as to why some areas have become rich, by lookig at the institutional framework rather than the specific policy.