Quote by 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

“We will refer to political institutions that are sufficiently centralized and pluralistic as inclusive political institutions. When either of these conditions fails, we will…

— Daron Acemoğlu

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

— Daron Acemoğlu

“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

“Inclusive economic institutions, such as those in South Korea or in the United States, are those that allow and encourage participation by the great…

— Daron Acemoğlu

Inclusive economic institutions require secure property rights and economic opportunities not just for the elite but for a broad cross-section of society.

— Daron Acemoglu

“The ability of economic institutions to harness the potential of inclusive markets, encourage technological innovation, invest in people, and mobilize the talents and skills…

— 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

“Inclusive economic institutions, such as those in South Korea or in the United States, are those that allow and encourage participation by the great…

— Daron Acemoğlu

“Extractive institutions are so common in history because they have a powerful logic: they can generate some limited prosperity while at the same time…

— Daron Acemoğlu

“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

“THE CONTRAST OF South and North Korea, and of the United States and Latin America, illustrates a general principle. Inclusive economic institutions foster economic…

— Daron Acemoğlu