“The process of political centralization can actually lead to a form of absolutism, as the king and his associates can crush other… — Daron Acemoğlu Copy Share Image
“Why did this unique process start in England and why in the seventeenth century? Why did England develop pluralistic political institutions and… — Daron Acemoğlu Copy Share Image
“Absolutism reigned not just in much of Europe but also in Asia, and similarly prevented industrialization during the critical juncture created by… — Daron Acemoğlu Copy Share Image
“But in many other cases, just the opposite takes place, and the process of political centralization also ushers in an era of… — Daron Acemoğlu Copy Share Image
“AUSTRALIA, LIKE THE UNITED STATES, experienced a different path to inclusive institutions than the one taken by England. The same revolutions that shook England… — Daron Acemoğlu Copy Share
“As such, the usual pattern of interaction between a critical juncture and existing institutional differences leading to further institutional and economic divergence played out… — Daron Acemoğlu Copy Share
“Lack of creative destruction and innovation is not the only reason why there are severe limits to growth under extractive institutions. The history of… — Daron Acemoğlu Copy Share
“As with France, an important consequence of the British Industrial Revolution for China and Japan was military vulnerability. China was humbled by British sea… — Daron Acemoğlu Copy Share
“Though the extractive institutions that the Mayas created produced sufficient wealth for the cities to flourish and the elite to become wealthy and generate… — Daron Acemoğlu Copy Share
“THERE ARE HUGE DIFFERENCES in living standards around the world. Even the poorest citizens of the United States have incomes and access to health… — Daron Acemoğlu Copy Share
“The Maya’s economy was based on extensive occupational specialization, with skilled potters, weavers, woodworkers, and tool and ornament makers. They also traded obsidian, jaguar… — Daron Acemoğlu Copy Share
“In the same way, current Chinese growth has nothing to do with Chinese values or changes in Chinese culture; it results from a process… — Daron Acemoğlu Copy Share
“NATIONS FAIL TODAY because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate. Extractive political institutions… — Daron Acemoğlu Copy Share
“The geography hypothesis claims that the great divide between rich and poor countries is created by geographical differences. Many poor countries, such as those… — Daron Acemoğlu Copy Share
“Politics is the process by which a society chooses the rules that will govern it.” — Daron Acemoğlu Copy Share
“The pattern of vicious circle depicted by the transition between Haile Selassie and Mengistu, or between the British colonial governors of Sierra Leone and… — Daron Acemoğlu Copy Share
“NATIONS FAIL TODAY because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate. Extractive political institutions… — Daron Acemoğlu Copy Share
Inclusive economic institutions require secure property rights and economic opportunities not just for the elite but for a broad cross-section of society. — Daron Acemoglu Copy Share
“Inequality in the modern world largely results from the uneven dissemination and adoption of technologies,” — Daron Acemoğlu Copy Share
