By Daron Acemoglu and James Robinson
Why Nations Fail - December 30, 2013
In the last several posts (here, here, here and here), we have discussed the role of leadership in political economy and organizations. What about ideas?
For example, Dani Rodrik has recently argued that ideas are much more important than the political economy literature admits.
Is this true? If so, how could this role of ideas be incorporated into political economy and more broadly economics?
There are two senses in which ideas could be important in political
economy. The first is that important political dynamics can be explained
mainly by certain ideologies or ignorance. This is a view we have argued against in Why Nations Fail, for example in our discussion of the “ignorance hypothesis”.
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