Why Nations Fail
The Origins of Power, Prosperity and Poverty
The book is the result of a synthesis of many years of research by Daron Acemoglu on the theory of economic growth and James Robinson on the economies of Africa and Latin America, as well as research by many other authors. It contains an interpretation of the history of various countries, both extinct and modern, from the standpoint of a new institutional school. The central idea of many of the authors' works is the defining role of institutions in the achievement of a high level of welfare by countries. An earlier book by the authors, The Economic Origins of Dictatorship and Democracy, is devoted to the same, but it did not contain a large number of various historical examples.