Friday, December 13, 2013

required reading for politicians.

Authors Daron Acemoglu and James A. Robinson are here to explain why some nations are prosperous and others not in their economic resource titled Why Nations Fail. These two have spent 15 years collaboratively studying many nations around the world, and with their collective research have drawn some interesting conclusions. I thought the very first example touched on was particularly interesting regarding Nogales which borders the US and Mexico. The observation is made that the wealth on one side of the border is very different from the other despite the populations having the same ancestry. The facts are told in a narrative voice rather than in graph/chart form which I personally enjoyed. But I know that many of you economists out there prefer your charts so that you can get your information quickly. There is a lot of history in this book, which could bore some of you who are just looking for the answers, but if you have some time, I suggest picking up a copy.

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