In many parts of Africa, in Medieval Europe and the Southern slave states, people who worked fields lacked incentive to produce more because they didn’t share the yield. It’s a microcosm of the national economy. In their new book, “Why Nations Fail,” Daron Acemoglu and James Robinson argue that the wealth of a country is most closely correlated with the degree to which the average person shares in the overall growth of its economy.
Click here to read Adam Davidson’s report on the book.
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