Why did I love this book?
This book tells why say, Australia succeeds when Argentina seems to lunge from crisis to crisis, despite having a similar endowment of agricultural land, minerals, and migrants.
The answer is institutions – economic (property rights) and political (democratic rights). Why Nations Fail is a lucid, majestic account of recent world economic history for the general reader.
3 authors picked Why Nations Fail as one of their favorite books, and they share why you should read it.
Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012.
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…