The Origins of Power, Prosperity, and Poverty
A provocative bestseller that explains why the world is divided into nations with wildly differing levels of prosperity. 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. They offer a pragmatic basis for the hope that at 'critical junctures' in history, those mired in poverty can be placed on the path to prosperity - with important consequences for our views on everything from the role of aid to the future of China.
About The Author
Daron Acemoglu is the Killian Professor of Economics at MIT and recipient of the prestigious John Bates Clark Medal. James A. Robinson is a political scientist and economist and the David Florence Professor of Government at Harvard University, and a world-renowned expert on Latin America and Africa. They are the authors of Economic Origins of Dictatorship and Democracy, which won numerous prizes.