Posts in Category: economics

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

by Daron Acemoglu

Why nations fail : the origins of power, prosperity and poverty

Why Nations Fail argues that economic and political institutions, not culture, ignorance, nor geography, are the determining factors of why global inequality perpetuates. Prosperity occurs when state is centralized and both economic and political institutions are inclusive, where citizens get to participate. Extractive institutions don't work in the long-run since they extract wealth to benefit one group at the expense of others.

I think the book is good since it illustrates good examples that support their analysis. It makes me think how important property rights are compared to times of unstable property rights when your stuff can randomly be taken away. Though it focuses how inclusive institutions can strengthen inclusive institutions and vice versa, that doesn't mean that it's destined to happen.

If you are interested in how economic institutions and political institutions play a role in wealth inequality, then this book is for you. It also includes historical examples to explain the inequalities present today. Though, you won't find a quick-fix solution in the book.

Anna, 15


smiley Find at the Library

Economix: How Our Economy Works (and Doesn't Work)

by Michael Goodwin

Economix : how our economy works (and doesn't work) in words and pictures

Economix is a comic that explains the big picture (mostly in Europe and U.S.) how the economy works, the downfalls, principles, and its impacts on society. Instead of starting from the principles and building onto the foundation, the book starts with history and examines how it affects the economy in present day.

I find Economix an intuitive read and easy to digest because the visuals has funky caricatures such as the companies being represented as giant robots. It's also pretty entertaining and informative because I learned about things like free market, socialism, and marxism.

I would recommend the book if you are interested in learning about the economy. It can really give you the understanding you need to dive deeper to other topics that might not be mentioned in the book.

Anna, 15


smiley Find at the library