Jessie

17%
Flag icon
Economic rights without political rights would not have been trusted by the colonists, who had seen the persistent efforts of the Virginia Company to coerce them. Neither would these economies have been stable and durable. In fact, combinations of extractive and inclusive institutions are generally unstable. Extractive economic institutions under inclusive political institutions are unlikely to survive for long, as our discussion of Barbados suggests.
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
Rate this book
Clear rating
Open Preview