Why Nations Fail - Chapter 5 Review - 5486 Words

Levisalles Amaury Georg-August-Università ¤t Sommer Semester 2012 Gà ¶ttingen WHY NATIONS FAIL D. ACEMOGLU J.A. ROBINSON Seminar Paper CHAPTER 5 IVE SEEN THE FUTURE, AND IT WORKS: GROWTH UNDER EXTRACTIVE INSTITUTIONS What Stalin, King Shyaam, the Neolithic Revolution, and the Maya city-states all had in common and how this explains why Chinas current economic growth cannot last. Summary Resume of the Key Statements of the Chapter Description of the Original Researches used By The Authors Opposition to the Theories of Acemoglu and Robinson Personal Point of View Bibliography 3 6 9 12 15 2 Resume of the Key Statements of the Chapter In this chapter, D. Acemoglu and J.A. Robinson explain how†¦show more content†¦The lack of creative destruction and true economic incentives are the main factors responsible for it. The second part of the chapter is focused on how Institutional Innovations, e.g. centralization and political establishment, can accomplish some limited economic achievements, and how, in a certain situation, it led to the Neolithic Revolution. In 1620, a man named Shyaam provoked a political revolution and made himself king of the Bushong, an African people located near the river Kasai. On the other side of the river was another, the Lele. Contrary to the first one, they had no government and would live in villages without any real hierarchy (Douglas, 1962/1963 and Vansina, 1978). After his accession to power, King Shyaam implemented a pyramid of political institutions and with it, a tax and a legal system assured by a police and a trial by jury system. The king also decided to reorganize agric ulture with the implementation of an intensive mixed-farming cycle (page 135). Thanks to all of this, the Bushong became much more prosperous than their neighbours and the situation is still the same today. Although King Shyaam was taking a large amount of resources from its people, since it was an Extractive Institution, they were still much richer than their nearby residents and were living in a secure state. As for the Natufians, they were considered as the first people to settle and established theShow MoreRelatedWhy Nations Fail - Chapter 5 Review5470 Words   |  22 PagesLevisalles Amaury Georg-August-Università ¤t Sommer Semester 2012 Gà ¶ttingen WHY NATIONS FAIL D. ACEMOGLU J.A. 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