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Why Nations Fail The Origins of Power Prosperity and Poverty

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Why Nations Fail The Origins of Power Prosperity and Poverty

Keypoints:

  1. Inclusive vs. Extractive Institutions
    The book distinguishes between inclusive institutions, which allow and encourage participation by the majority of people, and extractive institutions, which are designed to benefit a small elite at the expense of the broader population.

  2. Role of Political Institutions
    Acemoglu and Robinson emphasize the impact of political institutions on economic outcomes. Inclusive political institutions promote accountable governance and support inclusive economic policies, whereas extractive political institutions lead to corruption and inefficiency.

  3. Historical Context
    The authors use historical case studies to show how the development of inclusive institutions has led to prosperity in various countries, while extractive institutions have caused decline and stagnation in others.

  4. Importance of Property Rights
    The protection of property rights is highlighted as a crucial factor for economic success. Inclusive institutions typically ensure that property rights are secure, encouraging investment and innovation.


Writer                               
Daron Acemoglu (Author), James A. Robinson (Author)
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Why Nations Fail The Origins of Power Prosperity and Poverty

Rs.750 Rs.480

Why Nations Fail The Origins of Power Prosperity and Poverty

Rs.750 Rs.480

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