Who is this book for?
- Readers interested in big-picture theories of economic development and world history.
- Students and scholars of political economy, international relations, and development studies.
- People looking for an accessible introduction to institutional economics.
- Those who enjoy sweeping historical narratives that connect past events to current issues.
- Readers who like challenging conventional wisdom about why some countries are rich and others poor.
Who is unlikely to appreciate this book?
- Academics and experts looking for rigorous statistical analysis or highly technical economic theory.
- Readers who prefer more nuanced, multi-causal explanations for complex historical phenomena.
- Those who are critical of Western-centric or neoliberal economic perspectives.
- People who get frustrated by repetitive arguments or overly simplistic explanations.
- Readers looking for practical policy solutions rather than broad theoretical frameworks.
Things online reviewers enjoyed about this book
- Provides an insightful theory on why some nations prosper while others fail
- Offers a wealth of historical examples and case studies to support the main arguments
- Challenges common theories about national success/failure like geography and culture
- Introduces key concepts like 'extractive' vs 'inclusive' institutions
- Explains complex economic and political ideas in an accessible way
- Covers a broad sweep of world history and different regions/countries
- Thought-provoking analysis of how political and economic institutions shape national outcomes
- Highlights the importance of innovation and 'creative destruction' for economic growth
- Provides a framework for understanding inequality between and within nations
- Draws interesting connections between historical events and modern economic/political situations
Things people didn't like as much about this book
- Overly simplistic explanation for complex historical and economic phenomena
- Ignores or downplays other important factors like geography, culture, external influences
- Repetitive arguments and examples throughout the book
- Selective use of historical examples to fit the theory
- Lack of rigorous data analysis or statistical evidence to support claims
- Fails to adequately explain how extractive institutions arise in the first place
- Overlooks nuances and complexities in the historical case studies presented
- Presents a somewhat Eurocentric/Western-centric view of development
- Does not offer clear solutions for how to change extractive institutions
- Some predictions and analyses have not held up well since publication
