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  5. On Economics: A Review of Why Nations Fail by D. Acemoglu and J. Robinson and Pillars of Prosperity by T. Besley and T. Persson

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

On Economics: A Review of Why Nations Fail by D. Acemoglu and J. Robinson and Pillars of Prosperity by T. Besley and T. Persson

  • W. Bentley MacLeod
Journal of Economic Literature
vol. 51, no. 1, March 2013
(pp. 116–43)
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Abstract

The purpose of this essay is to review the books Why Nations Fail by Daron Acemoglu and James Robinson, and Pillars of Prosperity by Timothy Besley and Torsten Persson. The essay briefly discusses the main contributions of the books and the role of politics for economic performance. The review then discusses these contributions in the light of recent research on organizational economics, particularly the modern theory of the firm. (JEL D23, D72, O10, O47, O57)

Citation

MacLeod, W Bentley. 2013. "On Economics: A Review of Why Nations Fail by D. Acemoglu and J. Robinson and Pillars of Prosperity by T. Besley and T. Persson." Journal of Economic Literature, 51 (1): 116–43. DOI: 10.1257/jel.51.1.116

JEL Classification

  • D23 Organizational Behavior; Transaction Costs; Property Rights
  • D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
  • O10 Economic Development: General
  • O47 Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
  • O57 Comparative Studies of Countries