“Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic… — Daron Acemoğlu Copy Share Image
“NATIONS FAIL TODAY because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate. Extractive… — Daron Acemoğlu Copy Share Image
“Congo, vividly illustrates how political institutions determine economic institutions and, through these, the economic incentives and the scope for economic growth.” — Daron Acemoğlu Copy Share Image
“We will refer to political institutions that are sufficiently centralized and pluralistic as inclusive political institutions. When either of these conditions fails,… — Daron Acemoğlu Copy Share Image
“Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so… — Daron Acemoğlu Copy Share Image
“While Bigge was trying to turn back the clock, ex-convicts and their sons and daughters were demanding greater rights. Most important, they… — Daron Acemoğlu Copy Share Image
“We saw in the previous chapter how the process of political centralization under the Tudor monarchy in England increased demands for voice… — Daron Acemoğlu Copy Share Image
“The political institutions of a society are a key determinant of the outcome of this game. They are the rules that govern… — Daron Acemoğlu Copy Share Image
“Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic… — 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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“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 Image
“Politics is the process by which a society chooses the rules that will govern it.” — Daron Acemoğlu Copy Share Image
“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 Image
