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Why Nations Fail

Written by: Daron Acemoglu, James A. Robinson
Narrated by: Dan Woren
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Publisher's Summary

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?

Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence?

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions - with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.

Based on 15 years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:

  • China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?
  • Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?
  • What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2012 Daron Acemoglu (P)2012 Random House
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What the critics say

"Why Nations Fail is a truly awesome book. Acemoglu and Robinson tackle one of the most important problems in the social sciences - a question that has bedeviled leading thinkers for centuries - and offer an answer that is brilliant in its simplicity and power. A wonderfully readable mix of history, political science, and economics, this book will change the way we think about economic development. Why Nations Fail is a must-read book." (Steven Levitt, co-author of Freakonomics)

"You will have three reasons to love this book: It’s about national income differences within the modern world, perhaps the biggest problem facing the world today. It’s peppered with fascinating stories that will make you a spellbinder at cocktail parties - such as why Botswana is prospering and Sierra Leone isn’t. And it’s a great read. Like me, you may succumb to reading it in one go, and then you may come back to it again and again." (Jared Diamond, Pulitzer Prize–winning author of the best sellers Guns, Germs, and Steel and Collapse)
"A compelling and highly readable book. And [the] conclusion is a cheering one: The authoritarian ‘extractive’ institutions like the ones that drive growth in China today are bound to run out of steam. Without the inclusive institutions that first evolved in the West, sustainable growth is impossible, because only a truly free society can foster genuine innovation and the creative destruction that is its corollary." (Niall Ferguson, author of The Ascent of Money)

What listeners say about Why Nations Fail

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extractive institutions

Bit repetive at times but excellent content and theory. Definitely still recommend, just take some breaks.

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An eye opener for national development aspirants

This was well put together. A body of knowledge worth revisiting regularly for policy advisers in developing nations. It can also be instrumental in the drafting of a strategy to approach a development project intended for developing countries.

While I admit that I may need another review of this work to fully appreciate it, I have one question that the author might shed a little light on.

The research highlighted the main barriers to sustainable development in many developing nations. And it provided Brazil as a case study for overcoming one of such barriers through civil society mobilization. Although this was yet to be a fact at the time of publication, the gains Brazil made during the Lula era are being dismantled right now. What could Brazil have done differently to ensure enduring progress?

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a valuable read

I learned a lot from this book on why nations fail and why they succeed. It depends on whether they have extractive or inclusive institutions. With knowledge like this becoming more well known, there may be hope for some improvement in the world. At least we will have the right goals to shoot for.

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Should be required reading.

think you know how the world works? why countries are rich or poor? throw out your assumptions as you almost definitely fall into one of a few common incorrect ideological camps that have led to a $ trillion $$ in failed aid and helped numerous dictators rob their countries blind. this book doesn't give easy solutions since the problem is complex, but it does a very very good job of explaining what the problem is, using innumerable historical examples from all around the world. right now forces in your country are fighting to extract every drop of value and filter it into their clients pockets. and you'll let them because they say they are socialists, nationalists, monarchists, anticolonial, colonial, progressive, conservative, or whatever they think will keep the $ taps flowing. and as the country crumbles and falls into poverty, they will redouble their efforts and toast the destruction. read (listen to!!) it. you need to be a bit literate. but it's worth it. to it.

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    3 out of 5 stars

Interesting take with incomplete conclusions

The main thrust is that inequality, exploitation and disenfranchisement lead to economic stagnation. However, while it is happy to point out these problems in the pre-industrialized West, the 20th century east and modern 3rd world, the West today, especially the US is only discussed in the terms of it's success in escaping those problems. It ignores growing inequality under modern capitalism and shrinking political autonomy (eg. Citizens United). They hypothesize that countries like the US will continue to flourish, but China and others are likely to fail unless they adopt a completely free market and democracy. It has a fairly apparent libertarian, free market bias that leaves the conclusions and discussion incomplete.

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informative

very informative theory and book. very good read for any one. fun and relaxing

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Detailed and to the point

Book explains the difference between extractive and inclusive economical institutions and the roll they play on the nations success and failure. A must read or listen.

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Essential for anyone who values freedom

This course is one of the best out there explaining the reasons for power, prosperity and poverty in any organized society.

It is a roadmap for good with many examples in history that support the conclusions.

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required reading

This book is great. it's a more nuanced and profound version of Karl Marx. also spends some time proving why communism does not work

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an encyclopedic survey of modern economics

the first chapter sets up the authors main thesis regarding the causes of economic prosperity of modern nations and the remaining chapters provide tons of examples to support this thesis. Can be a bit repetitive as you approach the later parts of the book. A must read. Requires a lot of stamina to get to the end :)

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