Warning about why nations fail | Domestic Politics, Foreign Policy & Culture | Scoop.it
"Inclusive economic institutions that enforce property rights, create a level playing field, and encourage investments in new technologies and skills are more conducive to economic growth than extractive economic institutions that are structured to...

 

Co-written by the MIT economist Daron Acemoglu and the Harvard political scientist James A. Robinson, "Why Nations Fail" argues that the key differentiator between countries is "institutions." Nations thrive when they develop "inclusive" political and economic institutions, and they fail when those institutions become "extractive" and concentrate power and opportunity in the hands of only a few.

"Inclusive economic institutions that enforce property rights, create a level playing field, and encourage investments in new technologies and skills are more conducive to economic growth than extractive economic institutions that are structured to extract resources from the many by the few."