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