“Creative destruction redistributes not simply income and wealth, but also political power,” — 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
“When the barons and local elites recognize that political power will be increasingly more centralized and that this process is hard to… — Daron Acemoğlu Copy Share Image
“Growth thus moves forward only if not blocked by the economic losers who anticipate that their economic privileges will be lost and… — Daron Acemoğlu Copy Share Image
“Economic institutions that create incentives for economic progress may simultaneously redistribute income and power in such a way that a predatory dictator… — Daron Acemoğlu Copy Share Image
“Finally, when growth comes under extractive political institutions but where economic institutions have inclusive aspects, as they did in South Korea, there… — 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
“Political power was thus widely dispersed in Somali society, almost pluralistically. But without the authority of a centralized state to enforce order,… — Daron Acemoğlu Copy Share Image
“As we have seen, democracy is no guarantee that there will be pluralism. The contrast of the development of pluralistic institutions in… — Daron Acemoğlu Copy Share Image
“WE SAW HOW INCLUSIVE economic and political institutions emerge. But why do they persist over time? The history of the Black Act… — 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
“All in all, French armies wrought much suffering in Europe, but they also radically changed the lay of the land. In much… — Daron Acemoğlu Copy Share Image
“Without the changes in political institutions and political power similar to those that emerged in England after 1688, there was little chance… — 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
