Tag: Stalin

Why Nations Fail: 
Extractive and Inclusive Institutions

Posted in economic institutions, facts of economic growth, political institutions, property rights, technological progress

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…

The Russian Odyssey: 1924-1953

Posted in history of economic growth, political institutions

During Stalin’s rule, the Soviet Union abandoned markets in favour of a pure command economy, and industrialized at the fastest possible pace…