First published 2012
Daron Acemoglu and James Robinson tackle the question that has puzzled experts for centuries: why do some nations prosper while others remain trapped in poverty? The authors reject common explanations like culture, geography, or climate. Instead, they argue that political and economic institutions determine a country's fate. Their evidence spans fifteen years of research across civilizations from the Roman Empire to medieval Venice to modern Korea. North and South Korea share identical culture and geography, yet one starves while the other flourishes. The difference lies in their institutions. South Korea built systems that reward innovation and allow broad participation in economic opportunities. North Korea created extractive institutions that concentrate power and wealth. The authors examine cases from Botswana to the Soviet Union, showing how inclusive institutions drive prosperity while extractive ones perpetuate poverty. They address pressing questions about China's authoritarian growth model and America's future trajectory.
Genres: history, political-science, sociology, economics, non-fiction, academic
Vibes: thought-provoking
Tropes: comparative-analysis
Setting: Botswana, China, Korea, North Korea, Roman Empire, Soviet Union, South Korea, Venice
Period: 15th Century, 20th Century, 21st Century
529 pages · Hardcover · Crown Currency