Why Nations Fail is a book that is a must read for all people concerned with International
Politics and Economic Development. For people who want to understand the economic
disparity in the word, to understand why some countries are poor in this world and why some
are rich. To understand why the world wealth is accumulated in 1% of the population.
About the Author:
is a Turkish-born American economist and professor of economics at the
Massachusetts Institute of Technology for the past two and a half decades. After completing
his Ph.D. at the London School of Economics in 1992, Acemoglu embarked on a very
successful career which made him one of the most recognizable economists of the
James A. Robinson
is a British economist and political scientist with a Ph.D.
from Yale University; he has worked as a professor of economics at numerous prestigious
institutions, currently at the Harris School of Public Policy, University of Chicago. A close
collaborator of Acemoglu, Robinson is mostly interested in comparative political and
economic development of countries in Sub-Saharan Africa and Latin America. He has written
quite a few books and studies, many of them collaboration.
Book Review and Summary:
In Why Nations Fail, Daron Acemoglu and James A. Robinson set before themselves a very
ambitious task: to pinpoint, once and for all, the real reasons why some countries are rich and
prosperous, and why others are poor and doomed to fail all over again. And in fifteen
chapters, they lay out a thought-provoking theory which, if not something more, has incited a
lively discussion among the most famous economists, intellectuals, and political thinkers of
the XXI century. Before presenting their theory, Acemoglu and Robinson try to point to the
faults of other people’s explanations of the problem. They group them into several categories,
which we’ll further group into three.
Geography and Climate
According to the geography hypothesis most eloquently demonstrated by Jared
Guns, Germs, and Steel
, some nations were merely lucky enough to form
countries on locations blessed with a pleasant climate. There’s a reason why the poorest
countries in the world are located in tropical regions, and why the wealthiest can be found