Newton Books Why Nations Fail: The Origins of Power, Prosperity and Poverty

Why are some nations rich while others stay poor? Why Nations Fail answers this with a bold and elegantly argued theory: it is not climate, geography or culture that decides a nation’s fate, but its institutions. Drawing on fifteen years of research and examples from ancient Rome and the Tudors to modern-day China and Africa, the authors show how sound institutions create the conditions for innovation, growth and lasting peace. The book was shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award.

Daron Acemoglu is Institute Professor of Economics at MIT, and James A. Robinson is a political scientist and economist at the University of Chicago. In 2024, both were awarded the Nobel Prize in Economic Sciences for their work on how institutions shape a country’s prosperity. Together they have turned their academic research into one of the most widely read books on development in recent years.

What You’ll Learn:

The difference between inclusive and extractive institutions and why it matters

Why geography, climate and culture do not decide a nation’s wealth

How historical turning points, called critical junctures, shape a country’s path

Why rulers and elites sometimes block progress to protect their own power

What lessons can be drawn for policy, aid and the future of developing economies

Perfect For: Economics and politics students, policymakers, business leaders, development professionals, historians and curious readers who want to understand global inequality. It is also an excellent read for anyone interested in Africa’s development, governance and economic growth.

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