Now in paperback: The acclaimed, bestselling exploration of one of the most contentious and hotly debated questions of our time: Why do some nations achieve economic success while others remain mired in poverty? Featured on C-Span.

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Dimensions (Overall): 8.7 Inches (H) x 5.7 Inches (W) x 1.3 Inches (D)Weight: 1.34 PoundsSuggested Age: 22 Years and UpNumber of Pages: 432Genre: HistorySub-Genre: WorldSeries Title: Princeton Economic History of the Western WorldPublisher: Princeton University PressFormat: PaperbackAuthor: Gregory ClarkLanguage: EnglishStreet Date: January 18, 2009TCIN: 82957679UPC: 9780691141282Item Number (DPCI): 247-14-7916Origin: Made in the USA or Imported

Why are some countries rich and others poor? Why does a farmer in Sweden have a higher standard of living than a farmer in South Africa? Why does a schoolteacher in Switzerland earn more than one in Chicago?According to leading economic theorist John Kay, economic markets are key to the wealth or poverty of the world's nations. In Culture and Prosperity, Kay explores why market economies outperform socialist or centrally directed markets -- and why the imposition of market institutions often fails. His search for the truth about markets takes him from the shores of Lake Zurich to the streets of Mumbai, through theories of evolutionary psychology and moral philosophy to the flower market at San Remo and Christie's salesroom in New York.Witty, engaging, and grounded in cutting-edge economic theory, Culture and Prosperity is essential for understanding the state of the world today.

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at and understand the world.

A new book called Why Nations Fail argues that a lot comes down to politics — not just laws, but also a country's norms.

Why are some countries rich and others poor? In 1500, global income differences were small, but disparities have grown dramatically since Columbus reached America. In this Very Short Introduction, Robert C. Allen shows how the interplay of geography, globalization, technological change, and economic policy has determined the wealth and poverty of nations. Allen shows how the industrial revolution was Britain's path-breaking response to the challenge of globalization. Western Europe and North America joined Britain to form a club of rich nations, pursuing four polices--creating a national market by abolishing internal tariffs and investing in transportation, erecting an external tariff to protect their fledgling industries from British competition, creating banks to stabilize the currency and mobilize domestic savings for investment, and promoting mass education to prepare people for industrial work. Together these countries pioneered new technologies that have made them ever richer. A few countries--Japan, Soviet Russia, South Korea, Taiwan, and perhaps China--have caught up with the West through creative responses to the technological challenge and with Big Push industrialization that has achieved rapid growth through coordinated investment.

Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution occur in eighteenth-century England, and not at some other time, or in some other place? This title tackles these profound questions and suggests a fresh way in which culture explains the wealth, and the poverty, of nations.