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It’s wise to avoid grand ideologies when trying to make a country rich

By Economic Times - 4 weeks ago
Daron Acemoglu, Simon Johnson, and James A Robinson's (AJR) Nobel Prize-winning work emphasizes the role of institutions in economic prosperity, contrasting inclusive settler colonies with extractive colonial models. It challenges previous notions like Weber's on Catholic productivity and highlights the varying success of both democratic and autocratic systems.

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