
James Robinson | 'Why Nations Fail' - 2024 Nobel Prize Winner In Economics
Curious Worldview
Navigating Institutions: Extractive vs Inclusive
This chapter explores the evolution of extractive and inclusive institutions, emphasizing a breakthrough in terminology that defines these concepts in the context of global economies. It contrasts the institutional frameworks influencing economic disparities among nations, using historical examples like Korea and the border town of Nogales. The discussion also highlights the role of political institutions and corruption in shaping economic outcomes and societal well-being.
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