A taboo-busting critique of the transfer of wealth from the global South to the global North.

Chronicling the story of what has come to be called the new growth theory, this text helps to explain dominant first-mover firms like IBM or Microsoft, underscores the value of intellectual property, and provides essential advice to those concerned with the expansion of the economy.

The history of nations is a history of haves and have-nots, and as we approach the millennium, the gap between rich and poor countries is widening. In this engrossing and important new work, eminent historian David Landes explores the complex, fascinating and often startling causes of the wealth and poverty of nations. The answers are found not only in the large forces at work in economies: geography, religion, the broad swings of politics, but also in the small surprising details. In Europe, the invention of spectacles doubled the working life of skilled craftsmen, and played a prominent role in the creation of articulated machines, and in China, the failure to adopt the clock fundamentally hindered economic development. The relief of poverty is vital to the survival of us all. As David Landes brilliantly shows, the key to future success lies in understanding the lessons the past has to teach us - lessons uniquely imparted in this groundbreaking and vital book which exemplifies narrative history at its best.

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

When we think of great events in the history of the world, we tend to think of war, revolution, political upheaval or natural catastrophe. But throughout history there have been moments of vital importance that have taken place not on the battlefield, or in the palaces of power, or even in the violence of nature, but between the pages of a book. In our digitised age of instant information it is easy to underestimate the power of the printed word. In his fascinating book, Melvyn Bragg presents a vivid reminder of the book as agent of social, political and personal revolution. 12 Books that Changed the World presents a rich variety of human endeavour and a great diversity of characters. There are also surprises. Here are famous books by Darwin, Newton and Shakespeare - but we also discover the stories behind some less well-known works, such as Marie Stopes' Married Love, the original radical feminist Mary Wollstonecraft's A Vindication of the Rights of Woman - and even the rules to an obscure ball game that became the most popular sport in the world . . .

We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.

Divided World Divided Class charts the history of the 'labour aristocracy' in the capitalist world system, from its roots in colonialism to its birth and eventual maturation into a full-fledged middle class in the age of imperialism. It argues that pervasive national, racial and cultural chauvinism in the core capitalist countries is not primarily attributable to 'false class consciousness', ideological indoctrination or ignorance as much left and liberal thinking assumes. Rather, these and related forms of bigotry are concentrated expressions of the major social strata of the core capitalist nations' shared economic interest in the exploitation and repression of dependent nations. The book demonstrates not only how redistribution of income derived from super-exploitation has allowed for the amelioration of class conflict in the wealthy capitalist countries, it also shows that the exorbitant 'super-wage' paid to workers there has meant the disappearance of a domestic vehicle for socialism, an exploited working class. Rather, in its place is a deeply conservative metropolitan workforce committed to maintaining, and even extending, its privileged position through imperialism. This second edition includes new material such as data on growing inequality between the richest and poorest countries; data illustrating rising real wages in Imperial Britain; explication of the concepts of value, monopoly capital and unequal exchange and their ramifications for the global class structure; discussion of social imperialism on the left; responses to critiques surrounding the thesis of mass embourgeoisement through imperialism; as well as further information on a range of subjects.