Book 18: WHY NATIONS FAIL
Picked on 9/16/15
Paperback : $9.80, eBook: $12.99
Get the book here:
Why Mark Picked the Book (source: Mark's Facebook Page)
This book explores the different kinds of social institutions and incentives that nations have applied to encourage prosperity, economic development and elimination of poverty.
This is a good complement to our last book, Portfolios of the Poor, which focused on how people live in poverty. This one discusses why poverty exists and how to reduce it.
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).