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Book Hack
Why Nations FailBy Daron Acemoglu et al.

In a Nutshell

Why Nations Fail dives into the origins of economic inequality and explains that decision makers' poor choices, rather than culture or geography, are the main reason for unequal distribution of resources.

Favorite Quote

As we will show, poor countries are poor because those who have power make choices that create poverty.

Daron Acemoğlu

Introduction

Why do some nations prosper while others struggle?

Some may say it has everything to do with a nation's location or culture. But there's more to it than these simple factors.

For example, Botswana currently has one of the fastest increasing economies in the world.

But meanwhile, closeby Congo and Sierra Leone are stuck in a cycle of violence and poverty.

Daron Acemoğlu is a Turkish-born Armenian-American economist and MIT professor.

James Alan Robinson is a British economist and political scientist.

In their 2013 book, Why Nations Fail: The Origins of Power, Prosperity, and Poverty, Acemoğlu and Robinson centers around the striking economical differences between countries.

In this eye-opening read, the authors explain that the difference between thriving and poverty-stricken countries is the result of economic and political institutions put in place during critical junctures in history.

Here are the 3 key insights from this Hack

  1. 1.
    If you want to explain why two countries can have such different living standards, look at the institutions they have put in place
  2. 2.
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  3. 3.
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