A critical review of 'Why Nations Fail' that examines the authors' academic work and methodology, while questioning the book's quality and practical implications. Longer summary

This review critiques 'Why Nations Fail' by Acemoglu and Robinson (AR), arguing that while the book itself is not very good, AR's academic papers present a more compelling case for their thesis that political institutions are the main determinant of economic growth. The reviewer explains AR's methodology using instrumental variables, discusses their evidence and criticisms, and ultimately concludes that even if AR are correct, their extremely long-run focus may not be very useful for practical policymaking or development efforts. Shorter summary

The review examines Peter Brown's book on the transformation of Western Europe and North Africa from pagan to Christian society (350-550 AD), focusing on wealth in churches and societal changes. Longer summary

This book review examines Peter Brown's 'Through the Eye of a Needle', which explores the transformation of Western Europe and North Africa from classical pagan society to medieval Christian society between 350-550 AD. The review highlights Brown's focus on the entry of wealth into Christian churches and the economic, social, and political changes during this period. It discusses the late Roman economy, the role of cities, social structures, and the collapse of the Roman state. The reviewer also offers personal insights on the competitive nature of monotheism and the inefficient equilibria in Roman society. Shorter summary

Scott Alexander reviews 'A Brief History of Neoliberalism', finding it engaging but flawed in its economic analysis and predictions. Longer summary

Scott Alexander reviews David Harvey's 'A Brief History of Neoliberalism', a book that critiques the rise of neoliberal economic policies since the 1970s. The review highlights Harvey's argument that neoliberalism was a deliberate project to restore class power, rather than a necessary economic reform. Scott finds the book engaging but criticizes its lack of depth in economic explanations and its tendency to frame events dramatically without sufficient evidence. He notes that while Harvey makes some interesting points, many of his predictions about the future of neoliberalism have not come to pass. Shorter summary

Scott Alexander reviews a book on global economic history, discussing various factors and strategies that have influenced national development and industrialization. Longer summary

Scott Alexander reviews the book 'Global Economic History: A Very Short Introduction', which explores why some countries are richer than others and how nations have attempted to industrialize. The book avoids explanations based on cultural superiority or colonial exploitation, instead focusing on historical factors like the Industrial Revolution and various development models. It discusses the challenges faced by countries trying to industrialize in different eras and the effectiveness of different economic strategies, including planned economies and free market approaches. Shorter summary

Scott Alexander examines a study showing that Napoleonic reforms led to better economic outcomes, challenging the idea that evolved systems are always superior to designed ones. Longer summary

Scott Alexander discusses a 2009 paper by Daron Acemoglu et al. that challenges the idea that organically evolved systems are superior to designed ones. The study found that areas invaded by Napoleon and subjected to radical institutional reforms experienced more rapid economic growth. Scott explores the implications of this study, its potential limitations, and how it challenges common beliefs about the superiority of evolved institutions over designed ones. Shorter summary

The post critically examines the impact of India's 1991 economic reforms, suggesting that the country's economic growth began earlier and that the causes are more complex than commonly believed. Longer summary

This post examines the economic reforms in India and their impact on poverty reduction and economic growth. The author challenges the widely held belief that the 1991 reforms were the primary cause of India's economic boom. By analyzing various studies and economic data, the post suggests that India's growth trajectory began earlier, possibly in the mid-1970s or early 1980s. The exact causes of this growth remain unclear, with various factors such as trade liberalization, public investment, and political attitudes towards business being potential contributors. The author also discusses the potential impact of socialist policies on developing countries and the importance of understanding these economic shifts for future policy-making and arguments against certain forms of socialism. Shorter summary

Scott Alexander shares and comments on key passages from Piketty's 'Capital in the Twenty-First Century', discussing historical economic trends and their modern implications. Longer summary

This post is a collection of passages highlighted by Scott Alexander in his reading of Thomas Piketty's 'Capital in the Twenty-First Century'. Scott provides commentary on various economic and historical insights from the book, including the failure of past economic predictions, the role of inheritance in society, the history of taxation and public debt, and how wealth inequality has changed over time. He draws parallels between Piketty's observations and rationalist thinking, and reflects on how these historical economic trends relate to modern society and politics. Shorter summary

Scott Alexander reviews Piketty's 'Capital in the Twenty-First Century', finding its analysis of long-term economic trends and inequality compelling but pessimistic about proposed solutions. Longer summary

Scott Alexander reviews Thomas Piketty's 'Capital in the Twenty-First Century', a book on inequality and macroeconomic history. The review covers Piketty's key arguments about economic growth, the rise and fall of rentiers, and increasing inequality. Scott finds Piketty's data and analysis compelling, particularly the idea that normal economic growth is always 1-1.5% per year and that the rate of return on capital tends to exceed economic growth, leading to increasing inequality over time. The review discusses potential solutions like wealth taxes, but is pessimistic about their implementation. It ends on some cautiously optimistic notes about global inequality reduction and the scientific nature of Piketty's approach. Shorter summary

Scott summarizes and responds to comments on his technological unemployment article, covering various debates, critiques, and potential explanations for observed trends. Longer summary

This post summarizes comments on Scott's previous article about technological unemployment. It covers various perspectives on the topic, including debates about the pace of technological change, the impact of women entering the workforce, the role of disability benefits, issues with data interpretation, historical comparisons, and potential future scenarios. Scott also addresses some critiques of his original analysis and acknowledges areas where further research is needed. Shorter summary

Scott Alexander argues that the Dark Ages in Western Europe (500-1000 AD) did occur, presenting evidence of economic, demographic, and intellectual decline during this period. Longer summary

Scott Alexander argues against the claim that the Dark Ages never happened, presenting evidence for a significant decline in Western Europe from 500-1000 AD. He addresses common counterarguments, showing how they often rely on isolated demands for rigor or misunderstandings of the term. Scott provides data on economic decline, population decrease, and reduced intellectual output during this period. He acknowledges that the topic is complex and can be politicized, but ultimately concludes that the evidence supports the existence of a 'Dark Age' in Western Europe. Shorter summary

Scott Alexander explores the puzzling lack of GDP impact from women's significant entry into the workforce, considering various explanations and economic implications. Longer summary

Scott Alexander examines the puzzling lack of impact on GDP trends despite women's significant entry into the workforce between 1935 and 1985. He explores possible explanations, including data inaccuracies, low-resolution data, substitution of unpaid labor, or contradictions to economic theory. The post also addresses whether women's workforce participation lowered male wages, drawing parallels to debates about immigrant labor. Scott notes the absence of evidence for wage depression and expresses confusion about the economic implications of this major labor force change. Shorter summary