AUA Why Nations Fail - Daron Acemoglu | Page 11

E XTRACTIVE I NSTITUTIONS What Stalin, King Shyaam, the Neolithic Revolution, and the Maya city-states all had in common and how this explains why China’s current economic growth cannot last 6 . D RIFTING A PART How institutions evolve over time, often slowly drifting apart 7 . T HE T URNING P OINT How a political revolution in 1688 changed institutions in England and led to the Industrial Revolution 8 . N OT ON O UR T URF: B ARRIERS TO D EVELOPMENT Why the politically powerful in many nations opposed the Industrial Revolution Photo Inserts 9 . R EVERSING D EVELOPMENT How European colonialism impoverished large parts of the world 10 . T HE D IFFUSION OF P ROSPERITY How some parts of the world took different paths to prosperity from that of Britain 11 . T HE V IRTUOUS C IRCLE How institutions that encourage prosperity create positive feedback loops that prevent the efforts by elites to undermine them 12 . T HE V ICIOUS C IRCLE How institutions that create poverty generate negative feedback loops and endure