Why Nations Fail – Daron Acemoglu & James Robinson

I could relate the content with ST, particularly DM’s philosophy.

The authors give many examples but one in particular gives the essences of a place called Nogales which is prosperous on one side where in poverty on the other side.
They attribute it to two primary theories

  1. Inclusive institutions and
  2. Exclusive institutions

One leads to virtuous feeback circles where as the other leads to vicious feeback circles.

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