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This is a provocative bestseller that explains why the world is divided into nations with wildly differing levels of prosperity. Why are some nations more prosperous than others? "Why Nations Fail" sets out to answer this question, with a compelling and elegantly argued new theory: that it is not down to climate, geography or culture, but because of institutions. Drawing on an extraordinary range of contemporary and historical examples, from ancient Rome through the Tudors to modern-day China, leading academics Daron Acemoglu and James A. Robinson show that to invest and prosper, people need to know that if they work hard, they can make money and actually keep it - and this means sound institutions that allow virtuous circles of innovation, expansion and peace. Based on fifteen years of research, and answering the competing arguments of authors ranging from Max Weber to Jeffrey Sachs and Jared Diamond, Acemoglu and Robinson step boldly into the territory of Francis Fukuyama and Ian Morris. They blend economics, politics, history and current affairs to provide a new, powerful and persuasive way of understanding wealth and poverty.

About the Author

Daron Acemoglu is the Elizabeth and James Killian Professor of Economics at the Massachusetts Institute of Technology and the recipient of the John Bates Clark Medal in 2005. He is the author of numerous works including Economic Origins of Dictatorship and Democracy, with James Robinson (Cambridge University Press, 2006) and Introduction to Modern Economic Growth (2009). He is the current editor of Econometrica.

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