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 4,5

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Best Edition Why Nations Fail: The Origins of Power, Prosperity, and Poverty with Free MOBI EDITION Download Now!

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world. 

At this time of writing, The Audiobook Why Nations Fail: The Origins of Power, Prosperity, and Poverty has garnered 8 customer reviews with rating of 5 out of 5 stars. Not a bad score at all as if you round it off, it’s actually a perfect TEN already. From the looks of that rating, we can say the Audiobook is Good TO READ!

Best Edition Why Nations Fail: The Origins of Power, Prosperity, and Poverty with Free MOBI EDITION!

Encyclopedic knowledge apparently fools everyone. Consider the elements of the so-called theory: contingency (chance), critical junctures, virtuous circles, vicious circles, and political or cultural drift. Each is non-quantitative and subjective, perfectly able to fit into whatever historical narrative you have in order to 'explain' whatever cherry-picked cases you have. Together they make a great example of a theory that explains everything (via tweaking), and therefore explains nothing. Then you have vague, un-quantified 'inclusive' and 'exclusive' economic and political systems, which via all the historical anecdotes are seen to be perfect correlates of successful or failed (respectively) nations. Nations are in no sense quantitatively classified according to these economic or governing principles, and when it is convenient various states are compared across pre / post industrial revolution times -- as if the entire world had not changed in the mean time! In the end, then, all you have is a bunch of secret sauce. The authors begin by (in their minds) debunking quantitative factors such as poor tropical soils, disease, ignorance (of economics), lack of resources, poor education, climate, and so on by pointing out exceptions, failing to notice that a multi-factor situation will usually have exceptions to each factor considered in isolation, and also failing to notice that later in the book they imply the significance of some of the very factors they have debunked. Most of the book is made up of cherry-picked history -- very good history as a matter of fact -- to illustrate the use of their vaguely defined factors, which really amounts to intellectual use of anecdotes. To give you a sense of the authors' failure to grasp the concept of theory, near the end they provide a trivial anecdote as proof against the 'theory of simple solutions.' I'd like to know where that theory is described! Clearly, not only are most of their critical terms undefined, to the authors theory itself is undefined. There are no statistics, no quantification, so even the success or failure of a nation is according to their subjective judgment, and they are forced to use extreme cases to make their points. In sum then, they are moving away from a scientific and toward a subjective social, soft explanation, which begs many questions. Ultimately, disappointingly nothing is causal, all is contingent. Really?

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