AUA Why Nations Fail - Daron Acemoglu | Page 499

oligarchy and replaced one set of extractive institutions with even more pernicious ones. We have seen that England in 1688, France in 1789, and Japan during the Meiji Restoration of 1868 started the process of forging inclusive political institutions with a political revolution. But such political revolutions generally create much destruction and hardship, and their success is far from certain. The Bolshevik Revolution advertised its aim as replacing the exploitative economic system of tsarist Russia with a more just and efficient one that would bring freedom and prosperity to millions of Russians. Alas, the outcome was the opposite, and much more repressive and extractive institutions replaced those of the government the Bolsheviks overthrew. The experiences in China, Cuba, and Vietnam were similar. Many noncommunist, top-down reforms fared no better. Nasser vowed to build a modern egalitarian society in Egypt, but this led only to Hosni Mubarak’ s corrupt regime, as we saw in chapter 13. Robert Mugabe was viewed by many as a freedom fighter ousting Ian Smith’ s racist and highly extractive Rhodesian regime. But Zimbabwe’ s institutions became no less extractive, and its economic performance has been even worse than before independence. What is common among the political revolutions that successfully paved the way for more inclusive institutions and the gradual institutional changes in North America, in England in the nineteenth century, and in Botswana after independence— which also led to significant strengthening of inclusive political institutions— is that they succeeded in empowering a fairly broad cross-section of society. Pluralism, the cornerstone of inclusive political institutions, requires political power to be widely held in society, and starting from extractive institutions that vest power in a narrow elite, this requires a process of empowerment. This, as we emphasized in chapter 7, is what sets apart the Glorious Revolution from the overthrow of one elite by another. In the case of the Glorious Revolution, the roots of pluralism were in the overthrow of James II by a political revolution led by a broad coalition consisting of merchants, industrialists, the gentry, and even many members of the English aristocracy not allied with the Crown. As we have seen, the Glorious Revolution was facilitated by the prior