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Why Nations Fail: The Origins of Power, Prosperity, and Poverty

von Daron Acemoglu

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  • Countries such as Great Britain and the United States became rich because their citizens overthrew the elites who controlled power and created a society where political rights were much more broadly distributed, where the government was accountable and responsive to citizens, and where the great mass of people could take advantage of economic opportunities.

  • The collapse of the Spanish state with the Napoleonic invasion created a constitutional crisis throughout colonial Latin America.

  • The first declaration of independence took place in La Paz, Bolivia, in 1809, though it was quickly crushed by Spanish troops sent from Peru.