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Vuthy Va asked this question about Why Nations Fail: The Origins of Power, Prosperity, and Poverty:
The extractive and inclusive economic policy in the book is very convincing that the prosperity of a nation depends on policy choice (extractive or inclusive) of the elites to determine a rich and misery of that nation. I'm not quite understand how to say about the middle income countries.?
Jorge It depends, there are middle income economies like Chile or Brazil that have inclusive institutions, maybe you can call them "in transition". But you …moreIt depends, there are middle income economies like Chile or Brazil that have inclusive institutions, maybe you can call them "in transition". But you also have middle income economies like Colombia, that lacks this kind of institutions, so it depends in each case.(less)
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Why Nations Fail
by Daron Acemoğlu
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