Why Nations Fail

The Origins of Power, Prosperity, and Poverty

By: Daron Acemoglu, James A. Robinson

Narrated by: Dan Woren

Length: 17 hrs and 55 mins

Publisher's summary

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:

• China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?
• Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?
• What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2012 Daron Acemoglu (P)2012 Random House

Critic reviews

"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)

must read

this should be obligatory reading for everyone - gives a great hypothesis about what is the source of wealth today

Perfect!

It is a must read for those who are interested in politics, governance and history

Great book on an important topic

Terrific analysis. Provided me with great new insights into history and politics. One of the most important books I've ever read. The book is a bit repetitive, but I think it is a must read for anyone interested in history, politics, or economics.

A Handbook for all Political Aspirants

This book answered all the questions. it answered all the questions.

definitely recommend it to anyone

Astonishing Read. Loved it.

Would you recommend this audiobook to a friend? If so, why?

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.

What other book might you compare Why Nations Fail to and why?

Guns, Germs, Steel. Rational Optimist. Ascent of Money.

Which character – as performed by Dan Woren – was your favorite?

Well narrated. Great reader.

excellent book for we aspiring leaders

This is an excellent reference book for any aspiring leader of a developing country. It exhaustively justifies how developments can only result from building systems that don't exempt "sacred cows".

Great book

One of the best books on the political economy that I've ever read. Worth every second of your time!

Outstanding and Important

This is a very important book. Excellent job of building and defending their theory that most nation states fail from extractive and non-inclusive government institutions. Very compelling.

Highly recommended

Book provides a coherent theory for nations’ prosperity. All the historical examples make authors’ ideas more interesting and easier to grasp. Certainly a must read.

The truth hurts but we all need it

This book fills in a lot of knowledge gaps for people who want to understand how things got so bad and why nothing ever seems to change. Emotionally it was both heartbreaking and inspiring. I had to take several breaks at times because there's no unlearning this.