"Why Nations Fail"
April 23, 2013
Tuesday, April 23, 2013 Faculty House, Columbia University New York, New York 6:00-8:30 p.m
BACKGROUND: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness food and famine? With the publication of their latest book, M.I.T. economist Daron Acemoglu and Harvard political scientist James A. Robinson argue that the key differentiator between countries is “institutions.” Nations prosper when they develop “inclusive” economic and political institutions, and they fail when those institutions become “extractive” and concentrate power and opportunity in the hands of an elite few. In a question-and-answer event moderated by Glenn Hubbard, dean of Columbia Business School and Russell L. Carson Professor of Finance and Economics, Acemoglu and Robinson offer a new theory of political economy for understanding our globalized and integrated world, drawing on 15 years of research.