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."
Alice Mwikali Muimi –
Wow! What a great read!
An inspiring story that helps us learn how to be courageous in times of adversity.Calmness is indeed a powerful tool! Bravo, Elizabeth.
Alice Mwikali Muimi –
Wow! What a great read!
The book is full of life time lessons which will help you learn how to be courageous in times of adversity. An inspiration to both the young and old……calmness is indeed a great tool in this journey called life!Bravo Elizabeth.
Moses Kimende –
By reading Journeys and Stories, you are definitely embarking on a train of life experiences that will help you get out of your comfort zone and face life challenges with courage. I saw myself in this journey like a selfie typically mirroring each and every step of life. If you are not reading Journeys and stories, I don’t know what you are waiting for!
Maureen Wanjiku –
This book edifies on the poise we should embody during life’s predicaments. Im extremely proud of Liz and grateful that she shared her experiences with us and gave us the courage to speak up.
This book is definitely a best seller.
Maureen Wanjiku –
This book edifies on the poise we should embody during life’s predicaments. I’m extremely grateful for this book and im proud of Liz for sharing her testimony and giving us the courage to speak up. This book is definitely a Best seller.
kellynkatha –
While reading Journeys and Stories I smiled and loughed,then ,I wept,screamed and interceeded ….
A very interesting true story of a strong, resilient, phenomenal woman who had to rescue herself and against all odds.
This is a big lesson that God truly lives and everything is possible if we believe and act strategically with calmness.
Thank you Elizabeth for sharing your story. This story is one reason I cannot give up. I celebrate you!