Why Nations Fail

The Origins of Power, Prosperity, and Poverty
Author: Daron Acemoglu,James A. Robinson
Publisher: Crown Books
ISBN: 0307719227
Category: Business & Economics
Page: 529
View: 5041

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An award-winning professor of economics at MIT and a Harvard University political scientist and economist evaluate the reasons that some nations are poor while others succeed, outlining provocative perspectives that support theories about the importance of institutions. Reprint.

Summary of Why Nations Fail

By Daron Acemoglu and James A. Robinson | Includes Analysis
Author: Instaread Summaries
Publisher: Idreambooks
ISBN: 9781683785040
Category: Study Aids
Page: 30
View: 7120

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Summary of Why Nations Fail by Daron Acemoglu and James A. Robinson Includes Analysis Preview: Why Nations Fail: The Origins of Power, Prosperity, and Poverty is an examination of the causes of economic inequality. Authors Daron Acemoglu and James A. Robinson conclude that underdevelopment is caused by political institutions and not by geography, climate, or other cultural factors. Elites in underdeveloped countries deliberately plunder their people and keep them impoverished. The city of Nogales is half in Mexico and half in the United States. People in Nogales on the US side of the border are well-educated, prosperous, and have long life expectancies. Those on the Mexican side are poor, poorly educated, and have shorter life expectancies. The differences in Nogales can't be explained by geography or culture. Instead, different governments cause the differences in development. The United States historically established pluralist institutions that encouraged technological innovation and spread wealth throughout the population. By contrast, in Mexico, Spanish conquerors established extractive institutions that were intended to... PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book. Inside this Instaread Summary of Why Nations Fail by Daron Acemoglu and James A. Robinson Includes Analysis Overview of the Book Important People Key Takeaways Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at instaread.co.

Economic Origins of Dictatorship and Democracy


Author: Daron Acemoglu,James A. Robinson
Publisher: Cambridge University Press
ISBN: 9780521855266
Category: Business & Economics
Page: 416
View: 4925

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This book systematically explains why some countries are democracies while others are not.

The Price of Prosperity

Why Rich Nations Fail and How to Renew Them
Author: Todd G. Buchholz
Publisher: HarperCollins
ISBN: 0062405713
Category: Business & Economics
Page: 384
View: 1554

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In this bold history and manifesto, a former White House director of economic policy exposes the economic, political, and cultural cracks that wealthy nations face and makes the case for transforming those same vulnerabilities into sources of strength—and the foundation of a national renewal. America and other developed countries, including Germany, Japan, France, and Great Britain are in desperate straits. The loss of community, a contracting jobs market, immigration fears, rising globalization, and poisonous partisanship—the adverse price of unprecedented prosperity—are pushing these nations to the brink. Acclaimed author, economist, hedge fund manager, and presidential advisor Todd G. Buchholz argues that without a sense of common purpose and shared identity, nations can collapse. The signs are everywhere: Reckless financial markets encourage people to gamble with other people’s money. A coddling educational culture removes the stigma of underachievement. Community traditions such as American Legion cookouts and patriotic parades are derided as corny or jingoistic. Newcomers are watched with suspicion and contempt. As Buchholz makes clear, the United States is not the first country to suffer these fissures. In The Price of Prosperity he examines the fates of previous empires—those that have fallen as well as those extricated from near-collapse and the ruins of war thanks to the vision and efforts of strong leaders. He then identifies what great leaders do to fend off the forces that tear nations apart. Is the loss of empire inevitable? No. Can a community spirit be restored in the U.S. and in Europe? The answer is a resounding yes. We cannot retrieve the jobs of our grandparents, but we can embrace uniquely American traditions, while building new foundations for growth and change. Buchholz offers a roadmap to recovery, and calls for a revival of national pride and patriotism to help us come together once again to protect the nation and ensure our future.

The Great Divergence

China, Europe, and the Making of the Modern World Economy
Author: Kenneth Pomeranz
Publisher: Princeton University Press
ISBN: 9781400823499
Category: History
Page: 392
View: 2890

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The Great Divergence brings new insight to one of the classic questions of history: Why did sustained industrial growth begin in Northwest Europe, despite surprising similarities between advanced areas of Europe and East Asia? As Ken Pomeranz shows, as recently as 1750, parallels between these two parts of the world were very high in life expectancy, consumption, product and factor markets, and the strategies of households. Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were no worse off ecologically than Western Europe. Core areas throughout the eighteenth-century Old World faced comparable local shortages of land-intensive products, shortages that were only partly resolved by trade. Pomeranz argues that Europe's nineteenth-century divergence from the Old World owes much to the fortunate location of coal, which substituted for timber. This made Europe's failure to use its land intensively much less of a problem, while allowing growth in energy-intensive industries. Another crucial difference that he notes has to do with trade. Fortuitous global conjunctures made the Americas a greater source of needed primary products for Europe than any Asian periphery. This allowed Northwest Europe to grow dramatically in population, specialize further in manufactures, and remove labor from the land, using increased imports rather than maximizing yields. Together, coal and the New World allowed Europe to grow along resource-intensive, labor-saving paths. Meanwhile, Asia hit a cul-de-sac. Although the East Asian hinterlands boomed after 1750, both in population and in manufacturing, this growth prevented these peripheral regions from exporting vital resources to the cloth-producing Yangzi Delta. As a result, growth in the core of East Asia's economy essentially stopped, and what growth did exist was forced along labor-intensive, resource-saving paths--paths Europe could have been forced down, too, had it not been for favorable resource stocks from underground and overseas.

Poor Economics

A Radical Rethinking of the Way to Fight Global Poverty
Author: Abhijit Banerjee,Esther Duflo
Publisher: PublicAffairs
ISBN: 1610391608
Category: Business & Economics
Page: 320
View: 2677

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Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two practical visionaries working toward ending world poverty, answer these questions from the ground. In a book the Wall Street Journal called “marvelous, rewarding,” the authors tell how the stress of living on less than 99 cents per day encourages the poor to make questionable decisions that feed—not fight—poverty. The result is a radical rethinking of the economics of poverty that offers a ringside view of the lives of the world's poorest, and shows that creating a world without poverty begins with understanding the daily decisions facing the poor.

Pillars of Prosperity

The Political Economics of Development Clusters
Author: Timothy Besley,Torsten Persson
Publisher: Princeton University Press
ISBN: 0691152683
Category: Business & Economics
Page: 375
View: 5890

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"Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things." So wrote Adam Smith a quarter of a millennium ago. Using the tools of modern political economics and combining economic theory with a bird's-eye view of the data, this book reinterprets Smith's pillars of prosperity to explain the existence of development clusters--places that tend to combine effective state institutions, the absence of political violence, and high per-capita incomes. To achieve peace, the authors stress the avoidance of repressive government and civil conflict. Easy taxes, they argue, refers not to low taxes, but a tax system with widespread compliance that collects taxes at a reasonable cost from a broad base, like income. And a tolerable administration of justice is about legal infrastructure that can support the enforcement of contracts and property rights in line with the rule of law. The authors show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods. In line with much historical research, international conflict has also been an important force behind effective states by fostering common interests. The absence of common interests and/or cohesive political institutions can explain the existence of very different development clusters in fragile states that are plagued by poverty, violence, and weak state capacity.

Fault Lines

How Hidden Fractures Still Threaten the World Economy
Author: Raghuram G. Rajan
Publisher: Princeton University Press
ISBN: 9781400839803
Category: Political Science
Page: 280
View: 7321

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Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.

The End of the Asian Century

War, Stagnation, and the Risks to the World's Most Dynamic Region
Author: Michael R. Auslin
Publisher: Yale University Press
ISBN: 030022446X
Category: History
Page: 256
View: 2072

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An urgently needed “risk map” of the many dangers that could derail Asia’s growth and stability Since Marco Polo, the West has waited for the “Asian Century.” Today, the world believes that Century has arrived. Yet from China’s slumping economy to war clouds over the South China Sea and from environmental devastation to demographic crisis, Asia’s future is increasingly uncertain. Historian and geopolitical expert Michael Auslin argues that far from being a cohesive powerhouse, Asia is a fractured region threatened by stagnation and instability. Here, he provides a comprehensive account of the economic, military, political, and demographic risks that bedevil half of our world, arguing that Asia, working with the United States, has a unique opportunity to avert catastrophe – but only if it acts boldly. Bringing together firsthand observations and decades of research, Auslin’s provocative reassessment of Asia’s future will be a must-read for industry and investors, as well as politicians and scholars, for years to come.

Why Australia Prospered

The Shifting Sources of Economic Growth
Author: Ian W. McLean
Publisher: Princeton University Press
ISBN: 0691154678
Category: Business & Economics
Page: 281
View: 5002

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This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century.

Global Finance


Author: Robert J. Holton
Publisher: Routledge
ISBN: 1136808094
Category: Business & Economics
Page: 128
View: 4166

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Recent developments in finance are raising complex social and ethical questions concerning the legitimate scope and limits of the global economy. In this short, compelling book, acclaimed sociologist Robert Holton considers afresh our twenty-first century world of global finance. The book is a brilliant introduction to global finance and its consequences, highlighting the connections between finance, economy and society.

World Order

Reflections on the Character of Nations and the Course of History: Reflections on the Character of Nations and the Course of History
Author: Bryan Gibson
Publisher: CRC Press
ISBN: 1351350986
Category:
Page: N.A
View: 4194

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Henry Kissinger's 2014 book World Order: Reflections on the Character of Nations and the Course of History not only offers a summary of thinking developed throughout a long and highly influential career-it is also an intervention in international relations theory by one of the most famous statesmen of the twentieth century. Kissinger initially trained as a university professor before becoming Secretary of State to President Richard Nixon in 1973 - a position in which he both won the Nobel Peace Prize and was accused of war crimes by protesters against American military actions in Vietnam. While a controversial figure, Kissinger is widely agreed to have a unique level of practical and theoretical expertise in politics and international relations - and World Order is the culmination of a lifetime's experience of work in those fields. The product of a master of the critical thinking skill of interpretation, World Order takes on the challenge of defining the worldviews at play in global politics today. Clarifying precisely what is meant by the different notions of 'order' imagined by nations across the world, as Kissinger does, highlights the challenges of world politics, and sharpens the focus on efforts to make surmounting these divisions possible. While Kissinger's own reputation will likely remain equivocal, there is no doubting the interpretative skills he displays in this engaging and illuminating text.

Countering Heedless Jihad

Toward a Field Manual for Intellectual Sabotage
Author: James A. Sheppard
Publisher: Rowman & Littlefield
ISBN: 1442271264
Category: Political Science
Page: 194
View: 8137

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Using concepts that are not already a part of the militant discourse as a way to undermine extremism, the book explores a stratagem aimed at defusing jihadist ideology. By integrating the theology with viable methods for dissemination, it shows how to confuse members of radical groups and neutralize their recruiting efforts.

Making Democratic Governance Work

How Regimes Shape Prosperity, Welfare, and Peace
Author: Pippa Norris
Publisher: Cambridge University Press
ISBN: 113956076X
Category: Political Science
Page: N.A
View: 6371

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Is democratic governance good for economic prosperity? Does it accelerate progress towards social welfare and human development? Does it generate a peace-dividend and reduce conflict at home? Within the international community, democracy and governance are widely advocated as intrinsically desirable goals. Nevertheless, alternative schools of thought dispute their consequences and the most effective strategy for achieving critical developmental objectives. This book argues that both liberal democracy and state capacity need to be strengthened to ensure effective development, within the constraints posed by structural conditions. Liberal democracy allows citizens to express their demands, hold public officials to account and rid themselves of ineffective leaders. Yet rising public demands that cannot be met by the state generate disillusionment with incumbent officeholders, the regime, or ultimately the promise of liberal democracy ideals. Thus governance capacity also plays a vital role in advancing human security, enabling states to respond effectively to citizen's demands.

In the Wake of the Crisis

Leading Economists Reassess Economic Policy
Author: Olivier Blanchard,David Romer,Michael Spence,Joseph E. Stiglitz
Publisher: MIT Press
ISBN: 0262301083
Category: Business & Economics
Page: 256
View: 8929

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In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment.The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. ContributorsOlivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

In the Shadow of Violence

Politics, Economics, and the Problems of Development
Author: Douglass C. North,John Joseph Wallis,Steven B. Webb,Barry R. Weingast
Publisher: Cambridge University Press
ISBN: 1107014212
Category: Business & Economics
Page: 366
View: 1300

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This book explains how political control of economic privileges is used to limit violence and coordinate coalitions of powerful organizations.

13 Bankers

The Wall Street Takeover and the Next Financial Meltdown
Author: Simon Johnson,James Kwak
Publisher: Vintage
ISBN: 030747660X
Category: Business & Economics
Page: 316
View: 7370

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Provides historical context for the 2008 financial crisis and proposes a radical solution, the megabanks deemed "too big to fail" must be made smaller.--

William Wilberforce

The Life of the Great Anti-slave Trade Campaigner
Author: William Hague
Publisher: Houghton Mifflin Harcourt
ISBN: 9780151012671
Category: Biography & Autobiography
Page: 582
View: 8647

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A major biography of abolitionist William Wilberforce, the man who fought for twenty years to abolish the Atlantic slave trade.