Summary Of ' Why Nations Fail '

2262 Words10 Pages
A Summary of “Why Nations Fail” by D. Acemoglu and J. Robinson. Born and grew up in a former Germany colony from 1884 to 1919 after the world war one, slip of former Germany colonies in Africa between France and Britain. The question I always asked is, “why is it that most French speaking nations fall on the top of the list of poorest nations in the world? According to Global Financial Magazine, out of the first 42 poorest nations in the world as of December 2013, 28 of those were all French speaking and formal French colonies. The main idea in the book is why some countries with years and decades of continual technological advancement and globalization, they end up in persistent and almost permanent poverty. In this book, the prime matter in discussion is why some nations fail and some succeed. Great writers and many economic theorists have argued that location of the nations on the globe, policies, economic systems and culture were the main reasons of success and failure of nations. But Acemoglu and Robinson believe and document those institutions, particularly the political institutions that determine the functionality of these institutions. The entire book bridges that gap between the best of economies, history and political theory to construct a simple but comprehensive model, single sided efficient explanation for success and failure of nations. These political institutions are divided into two categories; “Extractive and “Inclusive” institutions. Extractive
Get Access