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 15 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:
Why Nations Fail will change the way you look at—and understand—the world.
©2012 Daron Acemoglu (P)2012 Random House
"Why Nations Fail is a truly awesome book. Acemoglu and Robinson tackle one of the most important problems in the social sciences - a question that has bedeviled leading thinkers for centuries - and offer an answer that is brilliant in its simplicity and power. A wonderfully readable mix of history, political science, and economics, this book will change the way we think about economic development. Why Nations Fail is a must-read book." (Steven Levitt, co-author of Freakonomics)
"You will have three reasons to love this book: It’s about national income differences within the modern world, perhaps the biggest problem facing the world today. It’s peppered with fascinating stories that will make you a spellbinder at cocktail parties - such as why Botswana is prospering and Sierra Leone isn’t. And 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." (Jared Diamond, Pulitzer Prize–winning author of the best sellers Guns, Germs, and Steel and Collapse)
"A compelling and highly readable book. And [the] conclusion is a cheering one: The authoritarian ‘extractive’ institutions like the ones that drive growth in China today are bound to run out of steam. Without the inclusive institutions that first evolved in the West, sustainable growth is impossible, because only a truly free society can foster genuine innovation and the creative destruction that is its corollary." (Niall Ferguson, author of The Ascent of Money)
Great sound theory of why nations fail, however I found the chapters to be quite repetitive around the same idea. This book could be half as long to make its point.
I think, this book comes around to a very likely conclusion.
It effectively analyses why many other suggestions about this may be wrong. Very enligthening and highly recommended.
For anyone who is curious about why wealth and advancement takes place in some countries, while fails to do so in others. The book takes a historic view of economic and political development, contrasts all corners of the globe, and provides rich context. One learns new things and questions long-held assumptions. Critically important reading to understand our world, especially the challenge of raising standards of living for all.
Why nations fail is a fascinating book . I have been intrigued by the distribution of wealth around the world and have been seeking answers. While I picked up jared Diamond's book I dont think I got anywhere close to the answer.
In my opinion this book nails the reason for economic disparity. The key words are pluralism, inclusive, economic, political systems.
While this book nails it; it may not be the right book for you. The authors take several examples and go through each one of them in excruciating details. Now if history is your cup of team then sure you would enjoy this book; else the key messages of inclusive political and economical institutions are repeated throughout the remainder of the book.
One of the best books I've read in years. If you liked Guns, Germs, Steel... you will love this sweeping look at economic history. Enlightening and extremely thought provoking, punctuated by fascinating examples of why nations fail and succeed from all points in human history and across all continents.
Guns, Germs, Steel. Rational Optimist. Ascent of Money.
Well narrated. Great reader.
I have traveled since my youth and have speculated for many years about the reasons that we (USA) have it all and most of the world has so little. Everyone seems to have a ready explanation- tropical diseases, cultural deficiencies, native flora and fauna unsuitable for domestication, environmental devastation, or exploitation of the poor countries by the wealthy ones. Although some of these factors certainly play a role, there are counter-examples that disarm them all in in many cases. I am convinced that this book has an explanation that stands up in just about every case. Further, it is an explanation that squares with evidence readily observable during one's own travel. Although the explanation offered here is generalized and must by qualified for each specific case, I can enthusiastically recommend the book as a thoughtful overview of this important question.
This is my top book - ever. I'm an immigrant to the US and read one book a week, and over 30 years that's a lot of books. I'm not sure that this book will be so compelling for US born Americans - but it certainly could be. Comprehensive and complete. Maybe a little long and disjointed for some listeners - but not for me. I loved every moment! Go Brazil!
Perhaps "The man who loved China"... or "Genghis Khan and the Making of the Modern World" - both of which explored sweeping changes throughout history. This book is more though - it exposes the interweaving social systems that cause history to unfold as it does
Dan is a non obtrusive narrator. A master of the craft.
No. Too many sections and stories to savor and digest.
I have 3 teenagers - and these 2 landmark books - "Why Nations Fail" and "Cheap: The High Cost of Discount Culture" would be my first 2 additions to their "education". I know better than to suggest them though (the education of parents through experience :)
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