![]() ![]() The differences between the Koreas is due to the politics that created those two different institutional trajectories. Korea, to take just one example, 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. Drawing on fifteen years of original research, Daron Acemoglu and James Robinson conclusively show that it is our man-made political and economic institutions that underlie economic success (or the lack of it). This illustrates how the fear of creative destruction froze human. ![]() But Queen Elizabeth I and King James I both denied him a patent because they worried that it would put knitters out of business. ![]() Is it culture, the weather, or geography that determines prosperity or poverty? As Why Nations Fail shows, none of these factors is either definitive or destiny. In Trouble with Stockings, Acemoglu and Robinson explain how the English priest William Lee invented a knitting machine in 1589. Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? ![]()
0 Comments
Leave a Reply. |