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Why Nations Fail: The Origins of Power, Prosperity, and Poverty - Softcover

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9780307719225: Why Nations Fail: The Origins of Power, Prosperity, and Poverty

Synopsis

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 fifteen 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. 

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Review

Guest Reviewer: Charles C. Mann on Why Nations Fail
Charles C. Mann, a correspondent for The Atlantic, Science, and Wired, has written for Fortune, The New York Times, Smithsonian, Technology Review, Vanity Fair, and The Washington Post, as well as for the TV network HBO and the series Law & Order. A three-time National Magazine Award finalist, he is the recipient of writing awards from the American Bar Association, the American Institute of Physics, the Alfred P. Sloan Foundation, and the Lannan Foundation. His 1491 won the National Academies Communication Award for the best book of the year. He lives in Amherst, Massachusetts.

A few years ago, while I was researching a book on the history of globalization, I suddenly realized that I was seeing the same two names on a lot of the smartest stuff I was reading. The names belonged to two economists, Daron Acemoglu and James Robinson. Much of their work focused on a single question: Why are poor places poor, and is there something we can do about it?

This is one of the most important questions imaginable in economics—indeed, in the world today. It is also one of the most politically fraught. In working on my book, I read numerous attempts by economists, historians and other researchers to explain why most of North America and Europe is wealthy and why most of Asia, Africa and Latin America is not. But these usually boiled down to claims that rich nations had won the game by cheating poor places or that poor places had inherently inferior cultures (or locations) which prevented them from rising. Conservative economists used the discussion as a chance to extol the wide-open markets they already believed in; liberal economists used it to make the attacks on unrestrained capitalism they were already making. And all too often both seemed wildly ignorant of history. I can’t recall encountering another subject on which so many people expended so much energy to generate so little light.

Acemoglu and Robinson were in another category entirely. They assembled what is, in effect, a gigantic, super-complete database of every country’s history, and used it to ask questions—wicked smart questions. They found unexpected answers—ones that may not satisfy partisans of either side, but have the ring of truth.

Why Nations Fail is full of astounding stories. I ended up carrying the book around, asking friends, “Did you know this?” The stories make it a pleasure to read. More important, though, Acemoglu and Robinson changed my perspective on how the world works. My suspicion is that I won’t be the only person to say this after reading Why Nations Fail.

About the Author

Daron Acemoglu is the Killian Professor of Economics at MIT. In 2005 he received the John Bates Clark Medal awarded to economists under forty judged to have made the most significant contribution to economic thought and knowledge. He is also the co-author of The Narrow Corridor: States, Societies, and the Fate of Liberty.

James A. Robinson, a political scientist and an economist, is the David Florence Professor of Government at Harvard University. A world-renowned expert on Latin America and Africa, he has worked in Botswana, Mauritius, Sierra Leone, and South Africa. He is also the co-author of The Narrow Corridor: States, Societies, and the Fate of Liberty.

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  • PublisherCrown
  • Publication date2013
  • ISBN 10 0307719227
  • ISBN 13 9780307719225
  • BindingPaperback
  • LanguageEnglish
  • Number of pages560
  • Rating
    • 4.08 out of 5 stars
      52,590 ratings by Goodreads

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Paperback. Condition: new. Paperback. NEW YORK TIMES AND WALL STREET JOURNAL BESTSELLER From two winners of the 2024 Nobel Prize in Economic Sciences, who have demonstrated the importance of societal institutions for a countrys prosperity 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 dont.The New York Times FINALIST: Financial Times and Goldman Sachs Business Book of the Year Award ONE OF THE BEST BOOKS OF THE YEAR: The Washington Post, Financial Times, The Economist, BusinessWeek, Bloomberg, The Christian Science Monitor, The Plain Dealer Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, or geography that determines prosperity or poverty? As Why Nations Fail shows, none of these factors is either definitive or destiny. Drawing on fifteen years of original research, Daron Acemoglu and James Robinson conclusively show that it is our man-made political and economic institutions that underlie economic success (or the lack of it). Korea, to take just one example, is a remarkably homogenous 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 differences between the Koreas is due to the politics that created those two different institutional trajectories. Acemoglu and Robinson marshal extraordinary historical evidence from the Roman Empire, the Mayan city-states, the Soviet Union, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, among them: Will Chinas economy continue to grow at such a high speed and ultimately overwhelm the West? Are Americas best days behind it? Are we creating a vicious cycle that enriches and empowers a small minority? This book will change the way people think about the wealth and poverty of nations . . . as ambitious as Jared Diamonds Guns, Germs, and Steel.BusinessWeek Based on 15 years of original research, Acemoglu and Robinson marshal 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. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780307719225

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