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By achieving a paradoxical goal in business—a low-cost product that sells for a premium price—Apple has become the most profitable company in history.6 The equivalent is an auto firm with the margins of Ferrari and the production volumes of
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“A businessman who expects his output to be stolen, expropriated, or entirely taxed away will have little incentive to work, let alone any incentive to undertake investments and innovations.”
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
“Inclusive economic and political institutions do not emerge by themselves. They are often the outcome of significant conflict between elites resisting economic growth and political change and those wishing to limit the economic and political power of existing elites.”
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
“If there was anything that depressed him more than his own cynicism, it was that quite often it still wasn't as cynical as real life.”
― Guards! Guards!
― Guards! Guards!
“As we will show, poor countries are poor because those who have power make choices that create poverty.”
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
“Economic growth and technological change are accompanied by what the great economist Joseph Schumpeter called creative destruction. They replace the old with the new. New sectors attract resources away from old ones. New firms take business away from established ones. New technologies make existing skills and machines obsolete.”
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
― Why Nations Fail: The Origins of Power, Prosperity, and Poverty
David’s 2025 Year in Books
Take a look at David’s Year in Books, including some fun facts about their reading.
445 books
|
22 friends
776 books
|
24 friends
4,762 books
|
97 friends
9 books
|
6 friends
19 books
|
11 friends
212 books
|
20 friends
42 books
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17 friends
15 books
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117 friends
More friends…
Favorite Genres
Book Club, Business, Contemporary, Ebooks, Fiction, History, Non-fiction, Philosophy, Politics, Psychology, Science, and Self help
Polls voted on by David
Lists liked by David
