This approach reminded me of Robert Reich’s Saving Capitalism, which I recommend to anyone looking for a more concise but less eclectic version of this institutional theory.
This book will show that while economic institutions are critical for determining whether a country is poor or prosperous, it is politics and political institutions that determine what economic institutions a country has…Our theory for world inequality shows how political and economic institutions interact in causing poverty or prosperity, and how different parts of the world ended up with such different sets of institutions. The main argument of Why Nations Fail puts the structure of political institutions front and center: Looking abroad is a fine way to uncover examples of sclerotic and corrupt government institutions, but increasingly the same scrutiny must be applied here at home.
First published in 2012 by Daron Acemoglu and James Robinson, this treatise on the differences between successful and unsuccessful nations feels newly relevant and frighteningly intimate. Why Nations Failhas been weighing down my bookshelf for a few years now, but the recent election of Donald Trump sent me scurrying to dust it off.
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