Importance of institutions-general concept the central

Question

There are two essays.

1. Importance of Institutions-general concept: the central thesis of the book WHY NATION FAIL is that inclusive political and economic institutions are necessary for sustained economic growth.

Write an essay of 500-700 words explaining the difference between inclusive and exclusive institutions and why these are necessary for economic growth as explained by Acemoglu and Robinson

2. Acemoglu and Robinson's thesis on the divergence of economic outcomes between nations is that small institutional difference lead to much different outcomes in face of a critical juncture. please select a critical juncture in the book and write a 750 word essay summarizing how small institutional difference resulted in different resulted in different economic paths for different soceities.

Answer 1

You have to write down two essay as per the requirement illustrated below. 1. Significance of Institutions-general concept: the central thesis of the book Why Nation Fail is that inclusive economic and political institutions are essential for sustained economic growth. Write down an essay in around 500 to 700 words describing the difference between inclusive and exclusive institutions and explain why these are essential for the economic growth as described by Acemoglu and Robinson 2) Acemoglu and Robinson's thesis on the divergence of the economic outcomes between nations is that small institutional difference lead to much dissimilar outcomes in face of the critical point in time. Please choose a critical juncture in the book and write down a 750 word essay summing up how small institutional difference yield in different resulted in various economic paths for dissimilar societies.