Milovesme’s Reviews > Why Nations Fail: The Origins of Power, Prosperity, and Poverty > Status Update
Milovesme
is on page 140 of 529
The authors claimed that inclusive institutions of economics and politics would lead a nation to prosperity, while extractive ones lead to the opposite. The nations where power is fairly distributed, individual’s property and freedom to determine their life direction are guaranteed, public facilities are provided, and law is enforced properly are economically strong, regardless location or natural resources owned.
— Jun 10, 2026 12:31AM
Like flag
Milovesme’s Previous Updates
Milovesme
is on page 69 of 529
The authors claimed that inclusive institutions of economics and politics would lead a nation to prosperity, while extractive ones lead to the opposite. The nations where power is fairly distributed, individual’s property and freedom to determine their life direction are guaranteed, public facilities are provided, and law is enforced properly are economically strong, regardless location or natural resources owned.
— Jun 09, 2026 06:23PM
Milovesme
is on page 69 of 529
The 2nd chapter debunked the theories known for explaining why some nations fail and some don't ; from the geography, culture, and ignorance. Those three are deemed unable to explain various cases. Hence alternative should be considered : that the failure of nation is the result of the political institution encouraged in the nations which affects the economics policy and later behavior.
— Jun 06, 2026 08:29AM
Milovesme
is on page 44 of 529
The book's theses : Interaction between political and economic institutions cause either a country's prosperity and poverty. Economic institution is pivotal in determining it, but political institution determines the economic instution in a country (the power parties or individual have, incentives, etc). In most of countries, both have existed since ages ago which shapes their current situations. Phew.
— May 28, 2026 03:04AM
Milovesme
is on page 28 of 529
Going down historical lane of European conquests on America, highlighting the contrasts between Spain and England over each's areas conquered. Spanish successfully obtained abundant lands and manipulated the indigenous, while English only attained the area of no meaningful resource and skeptical chief of locals which pushed em from enslaving their kins to creating system that incentivized them to work hard.
— May 21, 2026 06:38AM
Milovesme
is on page 5 of 529
I'm reading this again from the preface. It sums up the objective of this book; showing why poor countries are poor and rich ones are rich. Hypothetically, it started from the political transformation which later decided the economic trajectory. This book will elaborate the type that works and doesn't, what makes it work, and other pre-requisites with evidences found in various studies of poor and rich countries.
— May 19, 2026 05:07AM
