Daron Acemoğlu

“The reason that Nogales, Arizona, is much richer than Nogales, Sonora, is simple; it is because of the very different institutions on…

— Daron Acemoğlu

“Australia was not Britain, and its law would not be just British.”

— Daron Acemoğlu

“First perfected by Cortés in Mexico, it was based on the observation that the best way for the Spanish to subdue opposition…

— Daron Acemoğlu

“We saw in the previous chapter how the process of political centralization under the Tudor monarchy in England increased demands for voice…

— Daron Acemoğlu

“Economic growth and technological change are accompanied by what the great economist Joseph Schumpeter called creative destruction.”

— Daron Acemoğlu

“The South African state created a dual economy, preventing 80 percent of the population from taking part in skilled occupations, commercial farming,…

— Daron Acemoğlu

“After all, if ignorance were the problem, well-meaning leaders would quickly learn what types of policies increased their citizens’ incomes and welfare,…

— Daron Acemoğlu

“We call such institutions, which have opposite properties to those we call inclusive, extractive economic institutions—extractive because such institutions are designed to…

— Daron Acemoğlu

“Economics has gained the title Queen of the Social Sciences by choosing solved political problems as its domain.”

— Daron Acemoğlu

“World inequality today exists because during the nineteenth and twentieth centuries some nations were able to take advantage of the Industrial Revolution…

— Daron Acemoğlu

“Growth thus moves forward only if not blocked by the economic losers who anticipate that their economic privileges will be lost and…

— Daron Acemoğlu

“Under the Song dynasty, between 960 and 1279, China led the world in many technological innovatons. The Chinese invented clocks, the compass,…

— Daron Acemoğlu

“The Manchester Act was a significant victory for the nascent cotton manufacturers. But its historical and economic significance was in fact much…

— Daron Acemoğlu

“Our theory has attempted to achieve this by operating on two levels. The first is the distinction between extractive and inclusive economic…

— Daron Acemoğlu

“during the critical juncture created by the Industrial Revolution, many nations missed the boat and failed to take advantage of the spread…

— Daron Acemoğlu

“Max Weber, who we met in the previous chapter, provided the most famous and widely accepted definition of the state, identifying it…

— Daron Acemoğlu

“It is not that Argentinians are just naïve and think that Juan Perón or the more recent Perónist politicians such as Menem…

— Daron Acemoğlu

“Putting an end to foreign aid is impractical and would likely lead to additional human suffering. It is impractical because citizens of…

— Daron Acemoğlu

“Creative destruction redistributes not simply income and wealth, but also political power,”

— Daron Acemoğlu

“the colonists in Jamestown perished. Of the five hundred who entered the winter, only sixty were alive by March. The situation was…

— Daron Acemoğlu

“authoritarian regimes currently experiencing some growth are likely to reach the limits of extractive growth before they transform their political institutions in…

— Daron Acemoğlu

“Today Ethiopia is one of the poorest countries in the world. The income of an average Ethiopian is about one-fortieth that of…

— Daron Acemoğlu

“The Industrial Revolution started and made its biggest strides in England because of her uniquely inclusive economic institutions. These in turn were…

— Daron Acemoğlu

“The average Egyptian has an income level of around 12 percent of the average citizen of the United States and can expect…

— Daron Acemoğlu

“Putting an end to foreign aid is impractical and would likely lead to additional human suffering. It is impractical because citizens of…

— Daron Acemoğlu