8. Political Economy - Readings

Required Readings:

Chapter 3 outlines the central thesis of the book: that differences in income per capita around the world today, and the trajectories of economic development are determined by political and economic institutions. AJRThe common nickname for “Acemoglu, Johnson, and Robinson”, who frequently collaborate on these issues (see the primary sources below).

distinguish between “inclusive institutions” and “extractive institutions,” and describe how the distribution of political power affects political institutions, which in turn affect economic institutions, which affects a nation’s ability to sustain economic growth.

Chapter 1 sets the stage with a number of stories that emphasize the differences in inclusive vs. extractive institutions, primarily by comparing the colonization experience of the Spanish in South/Central America and the English in North America.

Primary Sources

Questions to Read For: