Quote by Daron Acemoğlu

“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

“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

“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

“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

“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

“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

“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

“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

“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

“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

“Politics is the process by which a society chooses the rules that will govern it.”

— Daron Acemoğlu

“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