Why nations fail : the origins of power, prosperity and poverty

 by Daron Acemoglu Advancing a theory about why poor countries are poor, Acemoglu and Robinson, academics at MIT and Harvard, respectively, expound economic history an activity that repeatedly if surprisingly produces popular books, such as those by Jared Diamond, Niall Ferguson, Steve Levitt, and Charles Mann. Perhaps the reason for high interest in the dismal science lies in a desire for concise, credible explanations about the formidable complexities of economics. If so, Acemoglu and Robinson deliver. They hold that countries become impoverished by despotic government. Opponents of globalization, corporations, and finance find no support in their argument, which recounts economic events from the Roman Empire to Zimbabwe. For each polity under scrutiny, the authors categorize its political institutions as extractive or inclusive. Using Britain's Glorious Revolution of 1688 as an analytical touchstone, Acemoglu and Robinson maintain throughout that laws and customs that protect property pave the road to prosperity, while the caprices of autocracy put property at risk and ultimately stifle growth. With historical examples to keep the exposition moving, Acemoglu and Robinson should recruit general-interest readers curious about economic development. --Booklist (Check catalog)