Acemoglu and Robinson argue that sustained growth is almost always attained in a particular way: inclusive political institutions develop first, followed by inclusive economic institutions, followed by growth. They recognize the boldness of their claim…
Category: economic institutions
Ding Dong, the Witch is Still Very Much Alive
There were massive changes in economic institutions during the late twentieth century. China abandoned central planning. The Soviet Union collapsed, and its satellite states gained their political freedom and adopted free market systems. Socialism receded throughout Latin America and in India…
The Holodomor and Mao’s Famine
The Communist governments of Stalin and Mao were responsible for two of the worst famines in history…
