An important question indeed
Title: Why Nations Fail: The Origins of Power, Prosperity and Poverty Author: Daron Acemoglu & James A. Robinson
Publisher: Crown Business Price: 1595Rs
No. of pages: 560
Why some nations fail while others succeed is an important question that is answered in this book written by leading academics Daron Acemoglu & James A. Robinson.
Both the authors have emphasised that it is the nations’ institutions and not climate, geography or culture that serves as an important factor in its success or failure. This is supported by various contemporary and historical examples from the ancient Rome to modern-day China. These examples allow the authors to illustrate their ideas and to expose many of the popular explanations on why some nations are rich while others are poor. The critical role of politics in nations development have also been emphasised in the book.
‘Why Nations Fail’ is an informative and thought-provoking book but at times the authors are carried away by irrelevant historical examples and provide unnecessary details. It is a mix of economics, politics, history and current affairs to offer a novel way of understanding wealth and poverty of nations. The book, shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012, is recommended for people who want to alleviate global poverty.