Inclusive or Extractive - Choices with Consequences

A very interesting article about social and political organization and it’s ultimate economic failure, based on Daron Acemoglu and James A. Robinson’s book “Why Nations Fail: The Origins of Power, Prosperity, and Poverty”.

The essence is as follows: there are both extractive and inclusive states - “extractive states are controlled by ruling elites whose objective is to extract as much wealth as they can from the rest of society. Inclusive states give everyone access to economic opportunity; often, greater inclusiveness creates more prosperity, which creates an incentive for ever greater inclusiveness”.

Guess which ones preserve their prosperity and power?

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