O livro novo do Acemoglu está na minha lista de leitura de férias (junho). É bom ler discussões além do dia a dia de políticas específicas de vez em quando. Preciso rever minha leitura do Williamson e sua turma.
The book’s thesis is of course that institutions are what matter for economic development. An early chapter dismisses the main alternative explanations – geography, culture, and policy ignorance. Specifically, the authors argue that a successful institutional framework needs two characteristics: it must be inclusive so that members of a society have some means of shaping economic allocations; and it must be sufficiently centralized that the state is effective. Unsuccessful economies are either exploitative and authoritarian or have a central political authority unable to take decisions that benefit the whole; in either case rent-seeking minorities are able to prevent the kind of innovation, and consequent redistribution of economic power, that in the long run is necessary for growth.