Acemoglu and Robinson’s goal is to explain why some nations are rich and others are poor. They present a theory based on the interaction between political and economic institutions. Casual empiricism suggests that its explanatory power is quite strong…
Tag: Stalin
The Russian Odyssey: 1924-1953
During Stalin’s rule, the Soviet Union abandoned markets in favour of a pure command economy, and industrialized at the fastest possible pace…
The Holodomor and Mao’s Famine
The Communist governments of Stalin and Mao were responsible for two of the worst famines in history…