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Journal of Economic Literature: Vol. 51 No. 1 (March 2013)

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

Article 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

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)

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Authors

MacLeod, W. Bentley (Columbia U)

JEL Classifications

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


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