I first came across Why Nations Fail at my local Half Price Books. After seeing it on the shelves a couple times, but still being unsure about whether I really wanted to read it or not, I reserved it at my local library.
Now I wish I had bought it (and likely will) – Daron Acemoglu & James A Robinson, while sometimes slipping into an academic, journalistic tone, present a fantastic historical, economic, cultural, and international view into the similarities, and differences, of “national” failures around the world over the last several centuries.
They spend a great deal of time expounding on the differences of countries that succeed and those that don’t – and offer insights into how failing nations could, potentially, turn themselves around.
Interestingly, the factors that play-into national success and failure are similar throughout history – critical junctures, inclusive/pluralistic political and economic environments vs extractive/exclusive political and economic structures, empowered citizenries, overbearing rulers, literacy, economic incentives (positive and negative), etc.
The Iron Law of Oligarchy:
the overthrow of a regime presiding over extractive institutions heralds the arrival of a new set of masters to exploit the same set of pernicious extractive institutions (p366)
My recommendation? Buy it. Read it. Share it. The background and conclusions this book presents and reaches should be required reading for anyone who wants to see their nation “do better” – politicians, businessmen, citizens, NGOs: all would benefit from applying what is demonstrated in this excellent work.
- Quality of writing: 4/5
- Quality of content: 4.5/5
- Historicity: 5/5
- Educational value 4.5/5
- Overall: 4.5/5