Daron Acemoglu is the co-author of one of Hunter’s five favorite books of all time, the incomparably brilliant Why Nations Fail in 2012. In a previous podcast, it was our pleasure to host Jared Diamond, whose masterpiece Guns, Germs and Steel looks at how access to different species is at the root of the world’s modern prosperity and poverty. Why Nations Fail attacks the same issue but from a different perspective, the perspective of institutions. In their book, Acemoglu and Robinson argue that the true roots of prosperity are politically and economically inclusive institutions like democracy and free markets which allow the ideas of many minds to compete. As the United States flounders under a massive debt and Europe faces its own woes, it’s easy to think that the politically uninclusive countries of Asia like China and Singapore offer significant benefits. However, in this interview, Acemoglu warns that the type of growth they produce is not sustainable and cannot generate innovation.

It is an utter treat to have Daron Acemoglu on today’s podcast. Bryan and Hunter both strongly recommend everyone in the world read Why Nations Fail. It’s better than every cat video on YouTube put together!

Website: whynationsfail.com
Twitter: @whynationsfail
Book: Why Nations Fail Origins Prosperity