Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012. Why are some nations more prosperous than others? Why Nations Fail sets out to answer this question, with a compelling and elegantly argued new theory: that it is not down to climate, geography or culture, but because of institutions. Drawing on an extraordinary range of contemporary and historical examples, from ancient Rome through the Tudors to modern-day China, leading academics Daron Acemoglu and James A. Robinson show that to invest and prosper, people need to know that if they work hard, they can make money and actually keep it - and this means sound institutions that allow virtuous circles of innovation, expansion and peace. Based on fifteen years of research, and answering the competing arguments of authors ranging from Max Weber to Jeffrey Sachs and Jared Diamond, Acemoglu and Robinson step boldly into the territory of Francis Fukuyama and Ian Morris. They blend economics, politics, history and current affairs to provide a new, powerful and persuasive way of understanding wealth and poverty.
A must-read. Acemoglu and Robinson are intellectual heavyweights of the first rank Guardian
Daron Acemoglu is Charles P. Kindleberger Professor of Applied Economics at The Massachusetts Institute of Technology and a member of the Canadian Institute for Advanced Research Program on Institutions, Organizations, and Growth. He received the 2005 John Bates Clark Medal awarded by the American Economic Association to the best economist working in the United States under age 40. James A. Robinson is Professor of Government at Harvard University. He is a Faculty Associate at the Institute for Quantitative Social Science and the Weatherhead Center for International Affairs and is a member of the Canadian Institute for Advanced Research s Program on Institutions, Organizations, and Growth.