Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex.
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western models.
Truly inclusive and sustainable institutions should be embedded in local realities, learning from the full array of conditions necessary for development.
Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex. As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western models. Truly inclusive and sustainable institutions should be embedded in local realities, learning from the full array of conditions necessary for development.
would be a mistake to assume that microfinance is the holy grail solution to the problem of global poverty, any more than is Hernando de Soto’s property rights prescription.
Niall Ferguson • The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
Selon l’économiste Daron Acemoglu et le politologue James Robinson, tout dépend d’un point : les institutions économiques et politiques du pays sont-elles inclusives ou extractives ? En deux mots, les institutions inclusives offrent à beaucoup de gens leur mot à dire dans la prise de décision, alors que les extractives privilégient la voix de quelq
... See moreKate RAWORTH • La Théorie du donut
These are all highly contestable statements.
W. Brian Arthur • Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
The economic system of any time and place rests on three foundations: geography, technology, and institutions.