Book · 2012 · intro level
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
Daron Acemoglu, James A. Robinson
- Venue
- Crown Business
- Link
- not available
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In plain language
Argues long-run prosperity gaps between countries come from whether institutions are 'inclusive' (broad participation, secure property rights) or 'extractive' (elites concentrate rents), and that this institutional character is sticky over centuries.
Technical summary
Comparative-historical account of institutional divergence as the primary explanation for cross-country prosperity and inequality gaps, building on the authors' earlier academic work on institutions and growth.
Key takeaways
- Not primarily an income-inequality book, but foundational to the political-economy literature this bibliography sits in.
- Acemoglu and Robinson (with Simon Johnson) received the 2024 Nobel Memorial Prize in Economic Sciences for this research program.