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Thu Mar 22, 2012, 11:37 AM

A Must Read Book: Why Nations Fail

It was featured in NPR Recently and discusses the difference between a Rich Nation and a Poor Nation. The difference is in the institutions.

It describes how the difference lies upon the degree to which a country has institutions that keep a small elite from grabbing all the wealth. In poor countries, the rich and powerful crush the poor and powerless.

http://whynationsfail.com/
http://www.npr.org/blogs/money/2012/03/16/148680705/why-are-some-countries-rich-and-others-poor

It mentions that when a small group of elites hold education, power and wealth and siphoning it off the rest it makes the nation poorer as they become entrenched.

By concentrating knowledge, wealth and opportunities to the top it stifles competition and creativity as it becomes limited to a small group of people rather than the most talented. It is a disservice to the nation.

This book can actually be complimented by another idea about group think/brain storming and creativity in children. Where as we grow older and we create short cuts and patterns rather than really thinking of novel new ways of improvement, and entrenchment, meaning that people get stuck in their own patterns and have a hard time finding better solutions.

This also directly relates to how current policies favor a small number of elites who has a vested interest in making more wealth for themselves rather than what benefits society as a whole.

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