Some cracks in the technocrat cult
In their seminal 2012 book, “Why Nations Fail,” Acemoglu and Robinson offered a powerful new framework for understanding why some societies thrive and others decline – those based on inclusive growth succeed, while those where growth is extractive wither… In particular, they believe we need to be cautious about “good” economic policies that have the side effect of either reinforcing already dominant groups or weakening already frail ones.
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