Evolving Perceptions

Title: Why Nations Fail: The Origins of Power, Prosperity, and Poverty Authors: Daron Acemoglu and James A. Robinson Publisher: Crown Publishing Group Release Date: March 20, 2012 Introduction:   In Why Nations Fail, the authors try to study what factor contributes in a country’s political and economical success or failure. Their main argument is that the emergence of prosperity and poverty correlates with man-made political and economic institutions. They tried to achieve this by functioning on two levels. First is differentiating between extractive and inclusive economic and political institutions. Second is their explanation for why inclusive institutions emerge in some parts of the world and not in others. Their theory is the link between inclusion economic and political institution and prosperity. According to both Acemoglu and Robinson, “states differ in in their economic success because of their different institutions, the rules influencing how the economy wo...