Economics Homework Help

Please answer these questions basic on the book Daron Acemoglu and James A. Robinson, Why Nations

Fail: The Origins of Power,Prosperity, and Poverty New York: Crown Publishers, 2012.

250words each

2. Compare and contrast the explanations of Allen with those of Acemoglu and Robinson asto why since 1800 to today some nations have become rich and richer and others havestayed relatively poor, that is, the so-called Great Divergence. Which approach, if any, doyou find more convincing? Explain.

3. Foreign aid does not get at the roots of world inequality and poverty, which lie in extractiveand authoritarian economic and political institutions and regimes. Providing foreign aid tosuch regimes is not a solution to world poverty, because inclusive economic and politicalinstitutions cannot be engineered by foreign aid. They require grassroots empowerment.”Critically discuss, giving some examples

6. “Extractive institutions tend to lead to even more extractive institutions. Power leads towealth, and wealth buys more power. Power tends to corrupt, and absolute power corruptsabsolutely. The result is a vicious circle, often sowing the seed of civil wars, economic ruin,political chaos, human suffering, descent into lawlessness, and state failure.” Discuss,giving some examples.

1Why Nations Fail: The Origins of Power, Prosperity and Poverty.Question 2James Robinson and Daron Acemoglu make a conclusive statement that it is the manmade economic and political institutions…