Reining In the Kings

The security of person and property is an essential aspect of property rights. That security was endangered during Europe’s Middle Ages by, among other things, the predatory behaviour of kings…

Why Nations Fail:
 Theory is Tidy, History is Messy

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…