8 REASONS WHY NATIONS FAIL | ANIMATED BOOK REVIEW

Script: Blinkist

Why Nations Fail: The Origins of Power, Prosperity, and Poverty

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine?

Is it culture, the weather, geography? Perhaps ignorance of what the right policies are?

Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence?

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities.

The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.

Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including:

- China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West?

- Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority?

- What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions?

Why Nations Fail will change the way you look at—and understand—the world.

Review

"Should be required reading for politicians and anyone concerned with economic development." —Jared Diamond, New York Review of Books

"...bracing, garrulous, wildly ambitious and ultimately hopeful. It may, in fact, be a bit of a masterpiece."—Washington Post

“For economics and political-science students, surely, but also for the general reader who will appreciate how gracefully the authors wear their erudition.”—Kirkus Reviews

“Provocative stuff; backed by lots of brain power.”—Library Journal

“This is an intellectually rich book that develops an important thesis with verve. It should be widely read.” —Financial Times

“A probing . . . look at the roots of political and economic success . . . large and ambitious new book.” —The Daily

“Why Nations Fail is a splendid piece of scholarship and a showcase of economic rigor.” —The Wall Street Journal

"Ranging from imperial Rome to modern Botswana, this book will change the way people think about the wealth and poverty of nations...as ambitious as Jared Diamond's Guns, Germs, and Steel."
—Bloomberg BusinessWeek

“The main strength of this book is beyond the power of summary: it is packed, from beginning to end, with historical vignettes that are both erudite and fascinating. As Jared Diamond says on the cover: 'It will make you a spellbinder at parties.' But it will also make you think.” —The Observer (UK)

"A brilliant book.” —Bloomberg (Jonathan Alter)

“Why Nations Fail is a wildly ambitious work that hopscotches through history and around the world to answer the very big question of why some countries get rich and others don’t.” —The New York Times (Chrystia Freeland)

"Why Nations Failis a truly awesome book. Acemoglu and Robinson tackle one of the most important problems in the social sciences—a question that has bedeviled leading thinkers for centuries—and offer an answer that is brilliant in its simplicity and power. A wonderfully readable mix of history, political science, and economics, this book will change the way we think about economic development. Why Nations Fail is a must-read book." —Steven Levitt, coauthor of Freakonomics

[matheus-uqui]

Man, you should have way more subscribers, great

[shintamutiara]

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[nts]

I love when people are creative and can create something new out of seemingly nothing. I am excited to see what you will come up with next, it sounds like the possibilities are endless!

[hngtng]

Great summary! Improvement in pronunciation will improve subscription number.

[jaynimje]

I appreciate your content. The explanation was on point.
Please try to articulate clearer next time. Many people are facing same issues.

[Korkuthan]

Really, geography cannot explain Singapore's success? (Add facepalm emoji here) Geography has a large part in that success, simply look at the map. Singapore sits at the bottleneck point on a very important maritime trade route between the East and the West.

[dorianbeu]

Great video and content, keep up with good work ! Can you please tell what software do you use to make these videos ? Thanks

[annietansley]

Wow thank you so much! this is so well done!!!

[wavewave]

Use a better mic or try talk clearer next time

[freelancer]

Хоть серьёзная работа по экономике, но и здесь есть в разделе Генуэзская республика.

[erencansinecan]

Great job, but please louder speech with diaphragm breaths

[HairyPixels]

It doesn't make any sense that you're trying to distill this into a single factor. If you have a high quality culture capable of being wealthy and oppressive the people then they will fail. If you have a low quality culture and give them the same institutions as wealthy countries then they will also fail. Basically, you need to a population which is capable of receiving institutions.

[bent]

Sorry I couldn't understand your accent

[ziutekbabel]

Great book, but you should work on your spelling. It is hard to understand what you are saying