“ On the eve of the French Revolution in 1789, there were severe restrictions placed on Jews throughout Europe. In the German city of Frankfurt, for example, their lives were regulated by orders set out… Daron Acemoğlu
“ Now imagine a different society, for example the Congo or Haiti, where a large fraction of the population has no means of attending school, or where, if they manage to go to school, the quality of tea… Daron Acemoğlu
“ Growth was so rapid that it took in generations of Westerners, not just Lincoln Steffens. It took in the Central Intelligence Agency of the United States. It even took in the Soviet Union’s own leader… Daron Acemoğlu
“ Absolutism reigned not just in much of Europe but also in Asia, and similarly prevented industrialization during the critical juncture created by the Industrial Revolution. The Ming and Qing dynasties… Daron Acemoğlu
“ A broad coalition meant that there would be greater demands for the creation of pluralist political institutions. Without some sort of pluralism, there would be a danger that one of the diverse intere… Daron Acemoğlu
“ The colonists in Jamestown perished. Of the five hundred who entered the winter, only sixty were alive by March. The situation was so desperate that they resorted to cannibalism. Daron Acemoğlu
“ Poor countries are poor because those who have power make choices that create poverty. They get it wrong not by mistake or ignorance but on purpose. To understand this, you have to go beyond economics… Daron Acemoğlu
“ Authoritarian regimes currently experiencing some growth are likely to reach the limits of extractive growth before they transform their political institutions in a more inclusive direction—and in fac… Daron Acemoğlu
“ Westerners, not just Lincoln Steffens. It took in the Central Intelligence Agency of the United States. It even took in the Soviet Union’s own leaders, such as Nikita Khrushchev, who famously boasted… Daron Acemoğlu
“ The South African state created a dual economy, preventing 80 percent of the population from taking part in skilled occupations, commercial farming, and entrepreneurship. All this not only explains wh… Daron Acemoğlu
“ THE SOVIET UNION was able to generate rapid growth even under extractive institutions because the Bolsheviks built a powerful centralized state and used it to allocate resources toward industry. Daron Acemoğlu
“ Nations fail when they have extractive economics institutions, supported by extractive political institutions that impede and even block economic growth. But this means that the choice of institutions… Daron Acemoğlu
“ Nations fail economically because of extractive institutions. These institutions keep poor countries poor and prevent them from embarking on a path to economic growth. This is true today in Africa, in… Daron Acemoğlu
“ In the same way, current Chinese growth has nothing to do with Chinese values or changes in Chinese culture; it results from a process of economic transformation unleashed by the reforms implemented b… Daron Acemoğlu
“ In Egypt, for instance, the first printing press was set up only in 1798, by Frenchmen who were part of the abortive attempt by Napoleon Bonaparte to capture the country. Daron Acemoğlu
“ Cuando el Estado no logra prácticamente ninguna centralización política, la sociedad, tarde o temprano, llega al caos, Daron Acemoğlu
“ Countries differ in their economic success because of their different institutions, the rules influencing how the economy works, and the incentives that motivate people. Daron Acemoğlu
“ Chinese economic growth today also has several commonalities with both the Soviet and South Korean experiences Daron Acemoğlu
“ But in many other cases, just the opposite takes place, and the process of political centralization also ushers in an era of greater absolutism. Daron Acemoğlu
