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Essay / An Analysis of Why Nations Fail - 894
DescriptiveWhy Nations Fail takes an in-depth look at why some countries prosper and become rich and powerful nations while other countries are left in poverty or reduced to poverty . Throughout this book review, I will discuss the main arguments and theories used by the authors and their direct impact on international development, keeping in mind that the strength of nations depends on their political and economic systems. Extractive institutions are used throughout this book to explain that the upper class extracts resources and goods from the lower class. They do not allow for growth or competition, but simply exploit the rest of society to do their jobs. It appealed to the few rather than the many, and it can still be seen in most places around the world. While inclusive institutions are the ideal way to manage nations, enabling fair economic systems, ownership, educational institutions and allowing all citizens to participate in the growth of the economy. Acemoglu and Robinson argue that this is the main factor that distinguishes rich from poor countries and, furthermore, how they treat their citizens. This system is relatively used in North America and Western Europe. “Widely divergent patterns of economic development across the world depend on the interaction of critical junctures and institutional drift. Existing political and economic institutions – sometimes shaped by a long process of institutional drift and institutional drift.” sometimes resulting from divergent responses to earlier critical moments – create the anvil on which future changes will be forged. »(109-110) Institutional drift is presented as an instrument to further explain institutional evolution; used to explain the process of economic change....... middle of paper ...... I have an authoritarian leader even though he is trying to help the country develop. Furthermore, the authors do not believe in foreign aid and explain that in general, only 10% actually reaches the most deprived. However, even if only 1% of the planned aid went to the actual beneficiaries, that would still be an achievement for nothing. To conclude, Why Nations Fail is a simple novel that explains the author's perspective on why our world is the way it is. it's today. Some countries are abnormally rich and powerful while others are left behind. Although some of their arguments are vague and don't necessarily seem like simple reasons, they do a great job of trying to summarize this huge issue into a well-written novel. Works cited by Acemoglu, Daron and James A. Robinson. Why Nations Fail: The Origins of Power, Prosperity, and Poverty. New York: Crown Publishers, 2012. Print.