AUA Why Nations Fail - Daron Acemoglu | Page 409

13. WHY NATIONS FAIL TODAY H OW TO W IN THE L OTTERY IN Z IMBABWE I T WAS J ANUARY 2000 in Harare, Zimbabwe. Master of Ceremonies Fallot Chawawa was in charge of drawing the winning ticket for the national lottery organized by a partly state-owned bank, the Zimbabwe Banking Corporation (Zimbank). The lottery was open to all clients who had kept five thousand or more Zimbabwe dollars in their accounts during December 1999. When Chawawa drew the ticket, he was dumfounded. As the public statement of Zimbank put it, “Master of Ceremonies Fallot Chawawa could hardly believe his eyes when the ticket drawn for the Z$100,000 prize was handed to him and he saw His Excellency RG Mugabe written on it.” President Robert Mugabe, who had ruled Zimbabwe by hook or by crook, and usually with an iron fist, since 1980, had won the lottery, which was worth a hundred thousand Zimbabwe dollars, about five times the annual per capita income of the country. Zimbank claimed that Mr. Mugabe’s name had been drawn from among thousands of eligible customers. What a lucky man! Needless to say he didn’t really need the money. Mugabe had in fact only recently awarded himself and his cabinet salary hikes of up to 200 percent. The lottery ticket was just one more indication of Zimbabwe’s extractive institutions. One could call this corruption, but it is just a symptom of the institutional malaise in Zimbabwe. The fact that Mugabe could even win the lottery if he wanted showed how much control he had over matters in Zimbabwe, and gave the world a glimpse of the extent of the country’s extractive institutions. The most common reason why nations fail today is because they have extractive institutions. Zimbabwe under Mugabe’s regime vividly illustrates the economic and social