Quote by Daron Acemoğlu

“The most important lesson is that extractive institutions cannot generate sustained technological change for two reasons: the lack of economic incentives and resistance by…

— Daron Acemoğlu

“Those who claim to believe in liberal principals but advocate more and more confiscation of the wealth created by productive people, more and more…

— David Boaz

“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

“The process of economic growth and the inclusive institutions upon which it is based create losers as well as winners in the political arena…

— Daron Acemoğlu

“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

“Institutions are lengthening shadows of strong individuals.”

— George Will

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

— Daron Acemoğlu

In the end, what brings civilizations down is when the elites lose confidence in the rightness of their cause.

— Charles Krauthammer

“Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic growth and…

— Daron Acemoğlu

“The legacy of unregulated wealth creation is bitter indeed.”

— Tony Judt

“Finally, when growth comes under extractive political institutions but where economic institutions have inclusive aspects, as they did in South Korea, there is always…

— Daron Acemoğlu

“Modern industrial civilization has developed within a certain system of convenient myths. The driving force of modern industrial civilization has been individual material gain,…

— Noam Chomsky