Why Nations Fail: The Origins of Power, Prosperity, and Poverty by Daron Acemoglu and James A. Robinson is a landmark work in political economy that tackles one of history’s most pressing questions: why are some nations rich and prosperous while others remain poor and unstable? Drawing on centuries of global history—from ancient Rome and medieval Venice to modern-day United States, Latin America, and Africa—the authors argue that the decisive factor lies not in geography, culture, or natural resources, but in the political and economic institutions societies build.
Acemoglu and Robinson distinguish between inclusive institutions, which distribute power broadly, protect property rights, encourage innovation, and allow citizens to participate in economic life, and extractive institutions, which concentrate power in the hands of elites, stifle creativity, and exploit the majority. Through vivid historical case studies, they reveal how extractive institutions trap nations in cycles of poverty, while inclusive ones open pathways to sustained growth and prosperity.
More than an economic analysis, this book is also a powerful commentary on leadership, governance, and the future of global development. It challenges the idea that poverty is inevitable, showing instead that nations can change course if they reform their institutions and dismantle entrenched systems of exploitation. Bold, accessible, and deeply researched, Why Nations Fail has become an essential text for students, policymakers, business leaders, and anyone seeking to understand the foundations of global inequality and the keys to long-term prosperity.
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