Why are some nations more prosperous than others? Why Nations Fail sets
out to answer this question, with a compelling and elegantly argued new
theory: that it is not down to climate, geography or culture, but
because of institutions. Drawing on an extraordinary range of
contemporary and historical examples, from ancient Rome through the
Tudors to modern-day China, leading academics Daron Acemoglu and James
A. Robinson show that to invest and prosper, people need to know that if
they work hard, they can make money and actually keep it - and this
means sound institutions that allow virtuous circles of innovation,
expansion and peace.
Based
on fifteen years of research, and answering the competing arguments of
authors ranging from Max Weber to Jeffrey Sachs and Jared Diamond,
Acemoglu and Robinson step boldly into the territory of Francis Fukuyama
and Ian Morris. They blend economics, politics, history and current
affairs to provide a new, powerful and persuasive way of understanding
wealth and poverty.
The
town of Nogales is divided by a fence: on the north side is the United
States, and on the south side, Mexico. And the inhabitants on the
northern side face lower crime rates, live longer and earn three times
as much as their southern neighbours. Leading academics Daron Acemoglu
and James A. Robinson set out to answer how two places— which share an
ethnic background, a geographical location and a climate— could be so
different. Their compelling and elegantly argued new theory reveals that
to prosper, citizens need 'inclusive institutions' which create
virtuous circles of innovation,
economic expansion and more widely-held wealth. Based on fifteen years
of research, and answering the competing arguments of authors ranging
from Jeffrey Sachs to Jared Diamond, Why Nations Fail blends economics, politics and history to provide a powerful and persuasive way of understanding wealth and poverty.