Why Nations Fail: The Origins of Power, Prosperity, and Poverty

wnfWhy are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

Why did the Industrial Revolution happen in England, instead of Moldova? What were the reasons of the Black Death? What is the difference between South and North Korea?

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

Simply, no. None of these factors is definitive. 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 drowning in poverty and violence? Daron Acemoglu and James Robinson are looking for the answers to these questions. They support their ideas with historical examples.

This book shows the reasons why some nations are rich and have a high life quality, while others are stuck in poverty. The writers contend that some nations have “inclusive” economic and political policies. These policies give a political voice to a large part of the population, rather than only to a small rich part. A set of checks help to accelerate the tendencies toward inclusiveness, and to suppress occasional lapses toward power-grabbing.

My rate for this book is 4/5