Topic > A Critique of Why Nations Fail by Acemoglu and Robinson

In a global economy surrounded by turbulence and instability, Daron Acemoglu and James Robinson attempt to address the puzzle of why some countries live in a permanent state of poverty while others thrive in their novel "Why Nations Fail: The Origins of Power, Prosperity, and Poverty." Through a comparison of Geoffrey Garrett's "It's the Politics" and Atin Basuchoudhary's "Daron Acemoglu and James A. Robinson: Why Nations Fail: The Origins of Power, Prosperity, and Poverty," this critical article aims to examine the criticisms advanced by the authors magazine on the main strengths, weaknesses and contributions of Acemoglu and Robinson's novel. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Geoffrey Garrett, a reviewer at the University of Sydney Business School, has provided an in-depth and provocative review of “Why Nations Fail.” He begins by recognizing the strength of Acemoglu and Robinson's model, recognizing the similarities and connections with previous academic literature, from Max Weber's notion of the cultural work ethic and Adam Smith's free market principles, to determine that the theoretical background provides substance and research integrity to the model. their model. Garrett continues by providing a succinct analysis of the weaknesses found in the text by questioning the scientific reliability and validity of the effects caused by the institutional characteristics of a country in which he states that “The authors cannot scientifically test their courage and radical thesis because a one cannot experiment on the history of the world once." He further criticizes their model by questioning their ability to look at the bigger picture regarding environmental factors that do not play as visible a role in creating economic growth as the institutional characteristics attributed by the authors. Through examining Mexico Garrett describes the problems surrounding the Mexican economy which has been greatly affected by poor water supplies which have resulted in the death of large numbers of crops over the years and rampant diseases which have contributed so significant to the country's stagnant economic growth. The final weakness Garret highlights both the lack of continuity between the economic development of the States and their ability to adapt to the model ascribed to the current world economy. This criticism is exemplified by the example of Greece, where most economic problems, contrary to their model, developed from over-inclusive economic and political institutions. While the second review by Atin Basuchoudhary, who agrees that the fundamental model of “Why Nations Fail” was built on the foundation of the inclusive and extractive characteristics of a country's political and economic institutions. This article focuses on the aspect of “differential institutional drift” and how historical shocks have influenced the trajectory of global economic growth. Compared to Garrett's review, Basuchoudhary focuses on the weakness versus a mix of strengths and weaknesses found in Garrett's review. Both reviews refer to the "Glorious Revolution in England in 1966" as the event that triggered inclusive economic and political institutions. Basuchoudhary links the fact that this event also caused an "institutional divergence" by referring to the Black Death which caused huge labor shortages in Eastern and Western European countries, but it was how these countries responded that determined the their growth.