In my prospective Why Nation Fail is the proper accumulation of researches , which are based on the evaluation of thousands of year of historical fact and figure of human civilization.
Daron Acemoglu and James a Robinson draw some mind-blowing conclusion and way forward for prosperity on the basis of those evaluation and research
In this book the writer explicitly mention and evaluate that the reason of poverty or prosperity of any nation in this world is independent of geographical, cultural and religious factors, which mention in different theories as the reason for economic differences ,but it totally depend on inclusive economic and e political institutions. in addition to that
they take the example of eastern and western Europe and show that how the two part of same continent, despite having similar geography and religious affiliation take different political and economic direction for development in 19th century. which leads to more prosperous western nation then the eastern one due to inclusive economic political institution in the western part of the continent .also in Nogales (a city divided by the U.S.-Mexico border) they illustrate the impact of institutions on prosperity despite having same culture and geography.
In addition they also mention that minor shift at point of critical conjecture create some big difference in the economic condition of nation.
They elaborated different examples that nation with extractive political and economic institutions can also achieve some level of prosperity but such prosperity cannot sustain for longer period of time . like the example of Soviet Union, which see economic boom at the start of industrial revolution due heavy investment in the industrial sector but the growth came to stagnation after few year due to lack of inclusive economic and political institutions.
In one sentence it can conclude that institution, institution and only inclusive institution can be bring prosperity to the nation
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