Why are some nations rich while others are poor?Author of Why Nations Fail and Professor of Economics at MIT
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Why Nations Fail
Why are some nations rich and some poor? While the U.S. is rich, accounting for 25 percent of the world's GDP, there are still failed states that struggle with poverty, corruption, and crimes.
What is that decisive cause that determines a nations' success or failure? MIT economics professor Daron Acemoglu presents a solid and clear answer: institutions. More specifically, it’s the stability that is derived from economic and political institutions. He emphasizes that the prosperity of a nation depends on a delicate power balance : that balance between the nation and its people.
The world is drowning in crises, including reemerging nationalism, economic inequality, political polarization, global hegemonic competitions, and unprecedented global challenges like the COVID pandemic and climate change. Which institutions are necessary today? What world order can prevent more nations from failing? Professor Acemoglu gives us his insights on and suggestions for the precarious situation the world is in.
Professor of Economics at MIT John Bates Clark Medal (2005) John von Neumann Award (2007) Global Economy Prize (2019)
Daron Acemoglu is an American economist, a professor of economics at MIT, and a recipient of the John Bates Clark Medal, a prestigious award for excellent economists under forty.
In Why Nations Fail, a co-authored book with James A. Robinson, Daron Acemoglu sheds light on the “decisive difference” that determines whether a country becomes rich or poor. Based on historical and modern evidence, this bestseller was praised as a new “The Wealth of Nations.” In his follow-up book, Narrow Corridor, he analyzed the political reasons causing that “decisive difference,” shedding more light on this fascinating topic.
Professor Acemoglu has accumulated a wealth of knowledge of the economic and political power gap between nations, earning him praise from international scholars and leaders such as Jared Diamond, Francis Fukuyama, Neil Ferguson, Mark Zuckerberg, and Bill Gates.
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