Nobody really knows, as a tautological premise, whether history exactly repeats itself (despite the seemingly obvious repetitive patterns if one looks at various cases). While I caution to maintain objectivity – to some degree, this case study, while not necessarily meaning there existed parallels between what happened in Venice and what currently is taking place in Hong Kong, carries directions which may possibly lead to a convergence. 1,796 more words
Tags » Why Nations Fail
When it comes to reading non-fiction nothing excites me more than reading books on economic history. Last month, I finished reading a fabulous book Why Nations Fail—The Origins of Power, Prosperity and Poverty… 1,061 more words
In their brilliant book, Why Nations Fail: The Origins of Power, Prosperity and Poverty, Daron Acemoglu and James A Robinson recount a story from ancient Rome that is relevant even today: “ 934 more words
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
By Daron Acemoglu and James Robinson
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♦ Nations fail today because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate.
Are some countries determined to be poor? Are their trajectories set in stone? Are rich countries destined to always prosper?
Definitely not. But for the past 150-200 years or so, roughly the same countries have remained poor in terms of GDP. 1,273 more words
Government, Geography, and Growth: The True Drivers of Economic Development by Jeffrey Sachs in Foreign Affairs
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This tale sounds good, but it is simplistic.