Posts in Category: sociology

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


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