Why Nations Fail: A Comprehensive Introduction
“Why Nations Fail” is a compelling and well-researched book that provides a fresh perspective on the issue of economic development. The authors convincingly argue that the success of a country depends largely on its institutions – specifically, whether they are inclusive or extractive. Inclusive institutions, which facilitate the participation of all members of society, create a favorable environment for economic growth and prosperity. In contrast, extractive institutions, which serve the interests of a narrow elite at the expense of the broader population, lead to underdevelopment and stagnation.