Foreign Aid Failure

Foreign Aid Failure
In an article published by The Spectator entitled "Why foreign aid fails – and how to really help
Africa," Daron Acemoglu and James A. Robinson condemn the current system of foreign aid
granting and suggest an alternate, more efficient solution. They support their points by deducing that
"extractive institutions," in which incentives for economic prosperity are few, are the culprit of
enduring poverty; by providing examples where foreign aid failed to reduce poverty (Congo,
Angola, Syria, and South Africa); by giving testimonies from former British Prime Minister David
Cameron and multilateral institutions concerning the effectiveness of foreign aid; and by advising an
alternative solution to combating poverty, involving diplomatic relations
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An Analysis of Why Nations Fail
Descriptive
Why Nations Fail takes an in depth look into why some countries flourish and become rich powerful
nations while other countries are left in or reduced to poverty. Throughout this book review I will
discuss major arguments and theories used by the authors and how they directly impact international
development, keeping in mind that nations are only as strong as their political and economical
systems. Extractive institutions are used throughout this book to explain that the upper class extracts
resources and goods from the lower class. They don't allow growth or competition, but rather they
just exploit the rest of society into doing their labour. It's used to please a few, rather than the
majority, and can still be seen in ... Show more content on Helpwriting.net ...
The essence of institutional drift is a key factor of the 6th chapter. Countries such as Venice and
Ancient Rome are used to describe why so many nations fail, due of the extractiveness of their
governments. There was a short time when these countries had an inclusive system that was working
and helping them grow. But the elite became greedy and power hungry, which set them on a
downward hill to failure. Whereas, in England the opposite was happening where there was a
demand for property rights and change. The elite were too afraid of losing their power to not agree
and it is precisely why England is still one of the most powerful countries in the world.
Extractive institutions play a huge role in encouraging the elite to dismiss up incoming technological
advances that would work towards modernization and industrialization. "World inequality today
exists because during the nineteenth and twentieth centuries some countries were able to take
advantage of the Industrial Revolution and the technologies and methods of organizations that it
brought while others were unable to do so." (271). Acemoglu and Robinson put an emphasis on
historical moments such as the industrial revolution which had a role in how countries development
played out some nations took what was dealt to them and used it in their favor.
Extractive and Inclusive institution was the major theme of this book and analyzing why inequality
is still so apparent in most of the world.
Critical
Why Nations

The Relationship Between Corruption And Poor Development
Kleptocracy is defined as a state controlled to benefit an individual or small group who use their
power to gain "a large fraction of society's resources" to use for themselves. Kleptocracy
"obstruct[s] development" of countries because the money taxpayers entrust to further develop their
country through projects such as schools or infrastructure, becomes diverted to certain people for
their own personal gain. Daron Acemoglu, Thierry Verdier, and James A. Robinson, writers for the
Journal of the European Economic Association, established that kleptocracy runs rampant in "many
developing countries." As a result of this corruption, countries suffer "highly inefficient economic
policies" and "expropriated the wealth of their citizens." ... Show more content on Helpwriting.net ...
According to the FBI, 1Malaysia Development Berhad raised roughly 8 billion dollars for the
Malaysian people's use; however, high–ranking Malaysian government officials received much of
that money for their own personal use. Robert B. Heuchling, a Special Agent with the Federal
Bureau of Investigation, verifies that real estate accounts for 9 out of the 17 assets the United States
seeks civil forfeiture for. Jho Low, a Malaysian financier, is a central figure regarding Malaysia's
misappropriated funds. Heuchling confirmed that Low can be traced back to the purchase of real
estate properties using misappropriated funds, and despite never holding a formal position at
1Malaysia Development Berhad, Low informally advised 1MDB's executive committee. Jho Low's
misuse of government funds raises the question: To what extent does kleptocracy in Malaysia affect
United States' real estate?
Louise Story and Stephanie Sauls, writers for The New York Times, conducted an investigation and
revealed Low involved himself in the purchase of five high–end properties with the accumulative
cost of over 140 million dollars. Story and Sauls disclose that anonymous funding purchased the
Time Warner Center in Manhattan, a Los Angeles Hills mansion, and a Beverly Hills Mansion, but
Story and Sauls could trace each property back to Jho Low. Robert B. Heuchling confirms their
findings in the Verified Complaint for Forfeiture from the United States government along

Satire For Human Workers By Sheelah Kolhatkar
Sheelah Kolhatkar begins her article, Amazon's New Supermarket Could Be Grim News For Human
Workers, with the beginning of Amazon purchasing Whole Foods which caused an outrage in
society the article says that many people were questioning if this was a good choice since Amazon is
an investor to robotics and modern technology. Kolhatkar continues her article by talking about how
six years ago Amazon bought Kiva, a company that creates mobile robots, and with those mobile
automatons they saved millions of dollars in more details, there would be less employment for many
people. Sheelah Kolhatkar then introduces Daron Acemoglu, an economist at M.I.T. who studies
labor market and automation, who says that automatons help retail workers do complex

Why Nations Fail By Daron Acemoglu And James A. Robinson
Why Nations Fail by Daron Acemoglu and James A. Robinson explains the different and unique
origins of power, prosperity, and poverty for certain nations. The preface of Why Nations Fail
foreshadows what is next to come by explaining that key historical events in life can make or break
a country's success and future. Next, each chapter dives into these key historical events, known as
case studies, and analyses that chapter's nation(s) and why the nation is either poverty–stricken or
prosperous. This is known as the book's methodology. The authors give examples such as with
inclusive and extractive institutions to argue against theories that suggest why nations are poor that
are not correct such as the geography hypothesis, culture hypothesis, and ignorance hypothesis. This
book argues that nations have and will continue to fail politically and economically if they
implement extractive institutions instead of inclusive institutions. The gap in literature between the
authors of Why Nations Fail and other authors of works of non–fiction that describe why nations fail
is the nature of specific institutions. These institutions are inclusive economic institutions, inclusive
political institutions, extractive economic institutions, and extractive political institutions. These
different institutions are the main focus of the book. The authors go on in detail as to why these
institutions are so key to understanding how a nation became to poverty–stricken or rich. The
authors of Why Nations Fail particularly dislike and articulate why hypothesis such as the
geography, ignorance and culture hypothesis are not sufficient evidence for why a nation was and
still continue to be poor to this day. These hypotheses can be known as the "fallacious hypotheses."
The first fallacious hypothesis is the geography hypothesis. The geography hypothesis states that the
differences between countries and their economic success is due their geography and where they are
located. For example, the French philosopher Montesquieu believed that tropical climates were less
prosperous than temperate climates because the soil is not the most productive and the tropical
climate made the inhabitants lazy, and therefore making them work less and

The Argument For The Constitution Of The United States Essay
The Argument for the Constitution of the United States of America On July 3rd, 1776, the Second
Continental Congress unanimously declared the independence of the thirteen United States of
America from Great Britain. Determined to unify the thirteen colonies, the Continental Congress
adopted the Articles of Confederation and Perpetual Union, the first constitution of the United
States, on November 15, 1777. However, ratification of the Articles of Confederation by all thirteen
states did not occur until March 1, 1781. Although the articles did not prevent the United States
from winning independence, the innate flaws of the articles became apparent in the years following
the revolution. The problems of the weak, purely legislative national government became too
prevalent for agents of the revolution, such as James Madison and George Washington. Madison and
Washington were strong supporters of a federal, or national, constitution, and on June 21, 1788,
congress ratified the Constitution of the United States. And in doing so, violated the "Revolutionary
Ideology" and the will of the American people.
The Revolutionary War effectively ended on October 17th, 1781. Having successfully won
independence, that task shifted to maintaining independence. The newly independent 'United' States,
faced an array of issues, and proved to be anything but united under the existing Articles of
Confederation. In hindsight, analyzing the arguments against the articles, as well as the

Essay on The Minimum Wage Should Be Increased
Congress enacted the federal minimum wage in 1938, during the Great Depression. Congress had
two goals; keeping workers away from poverty and boosting consumer spending for economic
recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing
the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep
up with inflation. Second, a higher income level reduces employee turnover and increases efficiency
and ultimately, raising the minimum wage does not reduce employment. Even with high
unemployment rates, the minimum wage is useful for the economy.
Today "the federal minimum wage" is $7.25 per hour since July 24, 2009. It has failed to keep up
with inflation. The ... Show more content on Helpwriting.net ...
Economists explain this connection with efficiency wage theory. The theory implies that higher
wages motivate workers to work harder and increase their incomes to enable them to eat well and
become healthier. Increasing the minimum wage thus will increase productivity and demand for
labor. A recent study by Andreas Georgiadis (2008) supported this view. In the study, Georgiadis
states "estimation results suggest that higher wage costs were more than offset by lower monitoring
costs, and thus the overall evidence implies that the national minimum wage may have operated as
an Efficiency Wage."
These policies also encourage employers to increase training investments. Economists Daron
Acemoglu and Jörn‐Steffen Pischke showed in their study (1999) that compression in the structure
of wages can cause firm–sponsored training. They concluded "When the wage structure is distorted
away from the competitive benchmark and in favor of less skilled workers, firms may want to invest
in the general skills of their employees" In their research, in 2001, they also state "In noncompetitive
labor markets, minimum wages tend to increase training of affected workers because they induce
firms to train their unskilled employees."
Opponents to minimum wage raise claim that the minimum wage costs jobs by pricing low–wage
workers out of the labor market. However, when we review academic studies that examine the
effects of minimum wage increases on

Life, Liberty, And Pursuit Of Happiness In The Declaration...
The United States, one of the most powerful nations in the world, was founded less than two
hundred and fifty years ago. Since 1776, the year when the thirteen original colonies ratified the
Constitution, three cornerstone ideas have been the drivers of the country's progress–– Life, Liberty,
and Pursuit of Happiness. Found in the Declaration of Independence, which was written by Thomas
Jefferson, these three concepts have been crucial in the lives of all Americans throughout the
existence of this nation. Liberty, which includes personal and economic freedom, was the main
reason why the colonies decided to break away from the United Kingdom in the eighteenth century.
The U.S. went through many economic booms, various recessions, and several major economic
depressions throughout its history. Yet, here it is, mostly unscathed and in full glory, still dominating
the world stage in economic and foreign affairs. However, in the past two–three decades, the
economic conditions have changed adversely, especially for the younger generations. It is an
undeniable fact that the consumer and labor markets have undergone tremendous adjustments, partly
due to people's changing lifestyles, as well as globalization. According to Janet Yellen , the U.S.
Federal Reserve Chairwoman's, statement to Congress, the "[country's] financial conditions have
worsened" and the United States economy has become "less supportive of growth" in recent years
(Web). The combination of these various factors and

The Gap Between Advanced Northern Countries And Developing...
The developmental gap between advanced northern countries and developing southern countries has
endured for centuries. The gaps' primary cause is a lack of strong stable institutions in developing
countries. The institutional failure is due, at least in part, to colonialism, which allowed for uneven
northern development predicated upon southern subjugation and abuse. Within enslaved colonies,
the colonizers installed poor institutions that would impact the country 's ability to later function as a
sovereign nation. Following the end of the colonial era, the developed North would supply policy
recommendations or requirements along side aid to help the South develop. These policies lacked
provisions to improve institutions within developing countries, proving to be monumental barriers
for the South to "catch up" to the North. In addition, modern protectionist flare–ups have stalled
global trade reverting back to bilateral or regional trade agreements that are more harmful for
developing countries. Bad institutions coupled with a lack of trade and investment pose as a further
hindrance to development. The end of the colonial era may have felt like a huge step forward for
newly sovereign nations, but in fact for some it would prove to be just as, or more detrimental than
colonialism. Author Daron Acemoglu offers an institutional hypothesis that essentially points to
good institutions as the catalyst that would eventually lead a country to economic prosperity

The Disadvantages Of Robotics
IN THE early 20th century the future seemed bright for horse employment. Within 50 years cars and
tractors made short work of equine livelihoods. Some futurists see a cautionary tale for humanity in
the fate of the horse: it was economically indispensable until it wasn't. The common retort to such
concerns is that humans are far more cognitively adaptable than beasts of burden. Yet as robots grow
more nimble, humans look increasingly vulnerable. A new working paper concludes that, between
1990 and 2007, each industrial robot added per thousand workers reduced employment in America
by nearly six workers. Humanity may not be sent out to pasture, but the parallel with horses is still
uncomfortably close. Robots are just one small part of the technological wave squeezing people.
The International Federation of Robotics defines industrial robots as machines that are automatically
controlled and re–programmable; single–purpose equipment does not count. The worldwide
population of such creatures is below 2m; America has slightly fewer than two robots per 1,000
workers (Europe has a bit more than two). But their numbers are growing, as is the range of tasks
they can tackle, so findings of robot–driven job loss are worth taking seriously.The paper's authors,
Daron Acemoglu of the Massachusetts Institute of Technology (MIT) and Pascual Restrepo of
Boston University, are careful to exclude confounding causes as best they can. Their results are not
driven by a few robot–intensive

Benefits And Risks Of Mass Digital Adoption
I am part of a generation of economists that grew up online. Thus, I have witnessed the growth
promise and disruptive potential of Internet–based technologies driven by their capacity to amplify
and propagate economic phenomena. I want to develop and test theories about the economy–wide
impact of digital technologies. My (micro)empiricist side – built working with Amy Finkelstein at
NBER and Edward Miguel at UC Berkeley – tells me to trust data more than anecdotal evidence.
Simultaneously, my (macro)theorist side – developed at Universitat Pompeu Fabra (UPF), UC
Berkeley, and LSE– reminds me to look at patterns in a system rather than in isolation. Combining
my macro and development interests, I crafted a research agenda to explore the benefits and risks of
mass digital adoption. For this proposal I received the 'La Caixa' Fellowship – Spain's NSF–
equivalent – to fund my future graduate studies in Economics, which I hope to have the chance to
pursue at MIT.
Preparing for Spain's Economics Olympiad during the Great Recession kickstarted my fascination
with economics. Since then, my upwards path towards a PhD has been full of thrilling positive
shocks. My latest jump has been thriving through LSE's topology–intensive Real Analysis course,
which has allowed me to retrospectively understand concepts seen throughout my education.
Studying convergence rigorously made the asymptotic theory from UPF's graduate metrics click;
fixed points helped me understand the contraction mapping

Charles Tilly: What Makes The Best State?
What makes the "best" state? For many years, philosophers have argued different perspective as to
what they believe what makes the best state. As stated in the The State (Evolution, Force, Contract)
lecture, well–known individuals such as Aristotle who believes the state protects rights and liberties,
organic mechanisms, and government and civil service which all of these make the perfect state in
his belief. Another perspective which is rather negative is from Charles Tilly, he believes, "War
makes the State". By all means, people (groups or individuals) who are in control of another and can
take their property. In my belief, that isn't a form of "best" state because that can trigger violence
and hate towards to the state and the people. Lastly, ... Show more content on Helpwriting.net ...
In my belief, instead of having North Korea be in the high level of authoritarian regime they should
stick to their label of being socialist in the part of providing their people social welfare. By
providing them the ability to have innovation in the country, grow economically and as a country by
finding ways to encourage and provide people to believe they have opportunities. According to
Socialist Constitution of The Democratic People's Republic of Korea, Korea describes itself as a
socialist country, however it's mainly viewed by others in the world as a totalitarian dictatorship
regime. How could North Korea claim they are socialist when social welfare is far from their
concern. They are more focused to gain power by restricting its people from endless opportunities.
The ideal state for me is a weak state with a little bit of socialism and liberalism. For instance,
having socialism like Denmark where education and shelter is provided to the people, and in return
they tax individuals a high amount. In my opinion, that's very smart because the people will
technically be paying for the government to have a broad security net, instead of the people having
to fall down on nothing if something happens economically. On the other side, being liberalist will
allow the state to focus more on economic situations and worry less about the individual's choice.
Instead of having a strong controlling regime, there would be a better outcome to have a strong
government encouraging their people to grow and become innovative and allow them to unleash
their talents by offering endless ways to

Analysis Of Ibn Haldun And Adam Smith And David Hume And...
It is one of the hardest questions and unfortunately still unknown in the living world in despite of a
myriad of academic studies. Many scholars from all around world asked this magic question in
different time over the history. From Ibn Haldun and Adam Smith to David Hume and Karl Marx,
from Alfred Marshall and Robert Solow to Paul Romer and Daron Acemoglu, there have been so
many prominent and distinguished scholars who tried to find an answer to this question in order to
understand the world better and some of them are still trying to find a fully satisfactory answer
about this one of the most interesting and challenging areas in academic studies. Here is an example
of one the answer to show that it is old question. "Ibn Khaldun gave his account of the stages of
economic development, from nomadic to agricultural to more "cooperation in economic matters"
which occur through an expansion of a town to a city, where demand increases and skilled labor
congregates and expands production both ill quantity and in "refinement." Economic growth
continues so long as there is an extra effort, which creates capital accumulation, which in turn,
combined with effort, leads to more production and the development of crafts in the cities. Wealth
expands through labor and its efforts, whereas with less human effort there may occur a reversal to
stagnation, followed by a downward trend in people 's standard of living." (I.W. Oweiss). Needless
to say, it would be too much to explain who said

Institution as the Fundamental Cause of Long Tern Growth
NBER WORKING PAPER SERIES
INSTITUTIONS AS THE FUNDAMENTAL CAUSE OF LONG–RUN GROWTH Daron
Acemoglu Simon Johnson James Robinson Working Paper 10481
http://www.nber.org/papers/w10481 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050
Massachusetts Avenue Cambridge, MA 02138 May 2004
Prepared for the Handbook of Economic Growth edited by Philippe Aghion and Steve Durlauf. We
thank the editors for their patience and Leopoldo Fergusson, Pablo Querubín and Barry Weingast for
their helpful suggestions. The views expressed herein are those of the author(s) and not necessarily
those of the National Bureau of Economic Research. ©2004 by Daron Acemoglu, Simon Johnson,
and James Robinson. All rights reserved. Short sections of text, not to exceed two ... Show more
content on Helpwriting.net ...
More recent incarnations of growth theory, following Romer (1986) and Lucas (1988), endogenize
steady–state growth and technical progress, but their explanation for income differences is similar to
that of the older theories. For instance, in the model of Romer (1990), a country may be more
prosperous than another if it allocates more resources to innovation, but what determines this is
essentially preferences and properties of the technology for creating 'ideas'.1 Though this theoretical
tradition is still vibrant in economics and has provided many insights about the mechanics of
economic growth, it has for a long time seemed unable to provide a fundamental explanation for
economic growth. As North and Thomas (1973, p. 2) put it: "the factors we have listed (innovation,
economies of scale, education, capital accumulation etc.) are not causes of growth; they are growth"
(italics in original). Factor accumulation and innovation are only proximate causes of growth. In
North and Thomas's view, the fundamental explanation of comparative growth is differences in
institutions. What are institutions exactly? North (1990, p. 3) offers the following definition:
"Institutions are the rules of the game in a society or, more formally, are the humanly devised
constraints that shape human interaction." He goes on to emphasize the key implications of
institutions since, "In consequence they structure incentives in human exchange, whether political,
social, or economic." Of

Napoleon And The French Revolution
Haley Gilmore
Reese
HI 102 B
20 April 2015
Napoleon and the French Revolution From 1789 to 1799, France saw its bloodiest and most violent
time in its history. The people of France were fed up with the living conditions of their society and
the requirements that their government continued to pile onto them. An unsatisfied society, more
often than not, will lead a revolt of some kind, at some point. This period in history saw rise to
power the infamous Napoleon Bonaparte, with his many trials and tribulations. Napoleon Bonaparte
and his controlling and overpowering tactics both advanced the ideals of the French Revolution.
Many events occurred in this time that forever altered the very fabric of French existence. In May of
1789, ... Show more content on Helpwriting.net ...
They made a tennis court on the grounds their meeting place. On the grounds, they pledged what is
today called, ironically, the Tennis Court oath, a promise to one another and the people of France
that they would not leave until they had written a new constitution. This new constitution was
instituted in 1795 and caused nothing but problems. The government was overrun with corruption
and deceit, something that Napoleon Bonaparte saw and wanted to change when he threw the people
in charge out of power. The new society that he created was, "based on the belief in the common
identity of French citizens whatever their social or geographic origin."(McPhee, 64) This went along
very well with the changing ideals of the time. The overthrow set into motion a series of changes in
this time period that forever changed the dynamic of French society. France was a difficult place to
live if you were member of the lower class in this century. It is a lot easier to focus on the political
and ideological events that were occurring. The people of France at this time were being severely
over taxed, and were well aware of the unfairness of this. On top of this excessive taxation, the
French public was saddled with dealing with low wages and high food prices. All of these factors
and more were recipe for discontent. Peasants around the country began rioting. Paris saw some of
the worst of this, with the violence felt all around the city. The Parisian

Politics is the Main Factor in the Development of...
There are great differences and inequality between countries around the world. Many countries don't
have access to basic needs such as education, health care, law and order, safety why is that? Why is
there a gap between rich and poor? How did some countries manage to become rich while others
remained poor? These are the regularly asked questions about the development of countries. There
are different perspectives on the growth of countries; however the three main theories mentioned in
the book are due to geography, culture, ignorance or institutions. The authors of "Why nations fail
"Acemoglu and Robhinson have challenged these theories . They believe that political institutions
are the main factors for development of a well–functioning nation and the determinants of economic
institutions. "It's all about institutions," Daron Acemoglu, one of the authors, explained. "It's really
about human–made systems, rules, regulations, formal or informal that creates different incentives."
The book explains over the years how institutions played a big role for the failure or success of
nations. It is filled with interesting historical stories and evidence from Latin America, England,
Europe, Africa, Roman Empire and the Mayans .The geography hypothesis states that land and
people are the reasons for failure or success of a nation. It also states that most countries in tropical
areas are poor due to laziness and widespread of diseases. Singapore and Malaysia are in such areas;

Why Nations Fail : The Origins Of Power, Prosperity And...
When investigating the global state of poverty and prosperity there is clear difference between the
wealthy nations and impoverished nations. In the past decades there has been an increase in
economic polarity between the developed and developing nations of the world. Some nations are
prospering greatly while others countries are still struggling to achieve, economic, political, and
social stability. The book Why Nations Fail: The Origins of Power, Prosperity and Poverty by Daron
Acemoglu and James A. Robinson attempts to explain why some nations have seen great success in
their economic and political development, and why other nations are still failing to develop in this
way. The arguments derived come from the key themes in chapters 3, 8, 9 and 15 of Acemoglu and
Robinson's book. In the early chapters of the book Acemoglu and Robinson argue against the
statement that geography is the reason why some nations are poor and others are prospering. For this
argument they use the case of North and South Korea. Since the Korean War South Korea has seen
great development both economically and politically while North Korea lags behind (Acemoglu &
Robinson, 2012). Since both of the countries are in the same geographical location Acemoglu and
Robinson argue that it cannot be geography that dictates a countries level of development alone, but
rather the economic and political institutions that have been implemented do (Acemoglu &
Robinson, 2012). They argue the difference between

Venezuela's Lack Of Economic Development
Daron Acemoglu and Terry Lynn Karl accurately predict events in Venezuela, due to the influence of
political elitist, who have hindered the state's progress towards economic advancement. Venezuela's
lack of political stability is defined by a rational actor, due to the inability of elitist groups to invest
their wealth in domestic development. According to Acemoglu's historical approach to assessing the
role of institutions in economic development, "some societies have good institutions that encourage
investment in machinery, human capital, and better technologies, and, consequently, these countries
achieve economic prosperity. However, countries where elitist groups represent the institutions often
times block progress towards industrialization

Why Nations Fail : The Origins Of Power, Prosperity, And...
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Book Review– Why Nations Fail: The Origins of Power, Prosperity, and Poverty, by Daron
Acemoglu (Author), James A. Robinson
Background
The book 'Why nations fail' was written by Daron Acemoglu and James A. Robinson. The first
author, an economics lecturer and was promoted to full professor in 2000. He is a member of the
economic growth program of the Canadian Institute of Advanced Research. His interests and
particularly to his audience are political economy where most of his works concentrate on political
economy development with regards to the roles of institutions. The co–author also a professor at
Harvard University, has studied economics at the London schools of economics, the university of
Warwick and Yale University. He mostly concentrates on comparing economic and political
development with particular interest in Latin America and Sub–Saharan counties. The two authors
base the book on economics. The book is intended for a general, much wider audience although it
specifically tends to appease to the economics student. The book attempts to offer crucial insight
into political economic failure especially with regards to extractive states. It is important for the
economic student and the general reader to understand their history so as to forge the future.
Summary
I found this book to be very interesting especially on reasons as to why most nations fail. The
fundamental reason or the book is to explain why some nations fail while others

Economic Growth. Economic Growth Is A Topic Constantly
Economic Growth Economic growth is a topic constantly discussed in Why Nations Fail by Daron
Acemoglu and James A. Robinson and Saving Capitalism by Robert B. Reich .The authors in both
books seem to believe that we live in a society in which economic growth is not at its finest, but
there is still hope. More detailed, Daron Acemoglu and James A. Robinson blame extractive
institutions for the slow growth because in this occasion the political and economic systems are
structures in a way to benefit the elite by extracting resources from the rest of the society . Similarly
Robert B. Reich states that those who control an increasing share of the wealth also have gained
growing influence over the rules by which the market ... Show more content on Helpwriting.net ...
More detailed countries such as Zimbabwe and Sierra Leone extractive institutions pave the way to
complete state failure, by destroy the laws and the most basic economic incentives. As a result of
those political and economic institutions economic stagnation is caused and in other more extreme
occasions civil wars, famines, displacements and epidemics may occur as well. However, Daron
Acemoglu and James A. Robinson also state that even extractive institutions can create economic
growth. The writers claim that even though the extractive institutions are using the wrong means to
an end, they still encourage as much growth as possible in order to have more to extract. This
growth however, can be achieved if these institutions have at least a minimal degree of political
centralization. Also such event can only last in the short run. Another aspect both books agree on is
the fact that the only solution to this huge problem of economic stagnation is the emergence of
inclusive institutions. Robert B. Reich claims that even though in the United States extractive
institutions have the upper hand, there is still hope. He states that "This vicious cycle is neither
inevitable nor irreversible ." He believes that inclusive institutions have equal opportunities to
succeed, and if that happens the economy then will blossom. He believes that

Poor Countries Remain Poor
When discussing poverty, it is difficult to pinpoint one simple reason that explains why poor
countries remain poor. However, patterns may be drawn when looking at states' history during
European colonization. The notion that the existence or absence of European settlers largely shaped
political institutions within states is supported by the two different institution types: representative
institutions and extractive institutions. European settlers promoted their own wants through strong,
representative institutions in colonized states. These states, such as the United States or Australia,
are considered wealthy countries today, whereas today's poor countries, including the Democratic
Republic of Congo and Somalia, were colonized by European settlers as extractive institutions. In
this paper, I will argue that, poor countries remain poor because the weak political institutions
inherited by extractive states under colonial regimes persist, making it difficult to develop an
appropriate relationship between the state and the market and degree of state intervention in the
economy.
Even though colonial regimes eventually ended, the extractive state's weak political institutions
persisted for three main possibilities, according to Daron Acemoglu. The first possibility he and
coauthors (2001) point to is the fact that "setting up institutions that place restrictions on
government power and enforce property rights is costly" (1376). When new elites inherit extractive
institutions,

Similarities Between Chile And Uruguay
1. – Introduction.
Chile and Uruguay are two of the most prosperous countries of Latin America. Both countries had
an important democratic tradition and enjoy of political Institutions that works, also they are a
referent for the rest of the countries of the region and they are well known for been the countries
with the greatest political stability in the region.
In the last Human Development Index of 2016 Chile was ranked 38 and Uruguay 54 (Human
Development Report, 2016, pág 198). These two countries were in the first three places of the Latin
America region. Another important indicator of development is the prosperity Index by the Legatum
Institute. This ranking evaluates nine different variables that make a country prosperous. In ... Show
more content on Helpwriting.net ...
In regards to the literature, one of the most important theories is the one that Daron Acemoglu and
James Robinson explain in their book "Why Nations Fail" The authors argument is that the principal
reason of one country is richer than other is because of their "extractive Institutions", this mean that
the institutions works for the benefits of their political leaders instead of working for the citizens
interests. But is clear that in this case that explanation is insufficient. These four countries don`t
have extractive institutions, but their results are very different from each other.
In fact the Democracy Index of 2017, ranked Switzerland in the second place and Norway tenth.
From the other hand Uruguay was ranked 18 and Chile 26 (Democracy Index, 2017, pág 5).
Therefore is clear that these four countries have strong political

Minimum Wage Should Be Increased
Rebecca Nevins
Meredith Sides
English 101
16 November 2015
Minimum Wage Should Be Increased
Congress enacted the federal minimum wage in 1938, during the Great Depression. Congress had
two goals; keeping workers away from poverty and boosting consumer spending for economic
recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing
the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep
up with inflation. Second, a higher income level reduces employee turnover and increases efficiency
and ultimately, raising the minimum wage does not reduce employment. Even with high
unemployment rates, the minimum wage is useful for the economy.
Today "the federal minimum wage" is $7.25 per hour since July 24, 2009. It has failed to keep up
with inflation. The real value of the minimum wage rose steadily from 1938 until its value reached a
peak in 1968. Thereafter, it suffered severe erosion as Congress failed to adjust for the inflation over
time. The minimum wage of $1.60 an hour in 1968 would be $10.47 today when adjusted for
inflation. This means that the purchasing power of the minimum wage has decreased significantly
over time. The current minimum wage is no longer enough to protect workers out of poverty. A
person who earns the minimum wage and works full–time (40 hours/week, 52 weeks/year) only
earns about $12,000 in a year. This is almost $7,000 below the poverty line for a family of three
($19,090)

Application Of A Trainer For Vet Sector
Conclusion: Entering as a trainer in VET sector was looked very simple which has become an
immediate challenge for the government to improve the quality of access into VET sector. The other
challenge identified in this proposal is that to improve the quality as per the changing needs and
demands technologically. Furthermore, I have given my viewpoints on VET practitioners related
issues analyzing the learning and development of trainers, assessors and consideration of their
professional development and new forms of curriculum development to widen the employability
skills within the VET sector. This research proposal anticipates some knowledge gained working
with the trainers in VET sector and shall be submitted to relevant government regulatory bodies to
see the positive changes in future. There are other depending roles of VET practices such as CEO 's,
leaders and management of RTOs which are not discussed in detail, because this research proposal
is focused solely on the capabilities of a VET trainer by having qualified in Certificate IV. Teaching
different cohorts of the new generation with a lot of technology demands is another issue which was
not discussed in this proposal and always embraced. VET sector is going to change rapidly due to
the Blended learning concept in the next ten years of time particularly in the nature of learner
expectations and how a trainer is trained and developed to lead and create new knowledge
considering the social and economic factors. This

Pros And Cons Of Gun Control Laws
I think that there should be more gun control laws because it can help in the future. Even though
many people already own guns and they can't be taken away because of the Second Amendment, it
can prevent those who shouldn't own a gun from buying one. Implementing more laws would make
it harder to own a gun, which can prevent many attacks and deaths. Even though more gun control
laws won't eliminate attacks are mass shootings completely, it will help lower the number of attacks
and save more lives. Having these laws may not seem like it can do much now, but it will make it
harder to get a gun in in the future and lower the chances of it falling into the wrong hands. Another
reason there should be more gun control laws is because it will help to create more jobs and boost
the economy. With these laws, there would need to be more thorough background checks and
interviews that act as an evaluation if a person is mentally stable to own a gun. Since we are only
doing the basics right now, which is a quick background check, more people will need to be hired to
do all of the work that is needed. There is no method that will completely diminish the problem of
guns falling into the wrong hands, but the stricter gun laws can help to lower the rate. Also by
introducing the stricter laws, more people can benefit from what they create and allow people to
have confidence in who is receiving a gun.
Assignment A4 MB Gov
The legislative branch is the most powerful out of the three. It consists of a House of
Representatives and a Senate which forms Congress. This branch has powers that the others depend
on, such as the executive branch because they rely on the legislative branch to vote in elections. One
of the strongest powers the legislative branch holds is being the only branch to make new laws or
change existing ones. The other branches have weaker powers because they can only veto laws,
suggest new laws, or question laws. The legislative branch has a 1–up on power over the other
branches of government. I think that the legislative branch has become too powerful. Even though I
think that it has, it still gets the job done because it is proficient with everything it does.. One
example is the House of Representatives

Technology And Self-Driving Technology
In today's age, the use and advancement of technology is rising at an exponential rate. What used to
be thought as impossible can now be seen as tomorrow's norm. However, some are raising concerns
that such technology is advancing too fast, faster than humans as a society can adapt. Because of
that, the theory that automation has more detriments than benefits on society is more prominent than
ever. This of course, is true. Employers are ditching human workers for a number of reasons,
including cost–efficiency, work–efficiency, and profit margins. However, does automation impart
more negatives than positives on the U.S.? Unfortunately, the short–term result of automation is the
immediate displacement of low–skill jobs. In David Trilling's study published on the peer–reviewed
Journalist's Resource, it is estimated that "Over the next 15 years, 2 to 3 million Americans who
drive for a living – truckers, bus drivers and cabbies – will be replaced by self–driving vehicles,
according to a December 2016 White House report on the ascent of artificial intelligence (AI)" (1).
The most recent advancement of technology is already having effects on today's society. Self–
driving technology has shown to be advanced enough to displace those who work as drivers, as they
provide a number of benefits, including: efficiency, work conduct, and cost. A one–time cost of the
self–driving vehicle does not need to be paid a wage a with human drivers, and the AI does not to
take breaks and does not

Equality of Opportunity
Equality of opportunity
Every child deserves to be educated regardless or race, color or ethnic background. Children from
all social backgrounds have equal rights to attend school where they receive an education that will
prepare them to compete on equal terms in the economic system.
The highest performing education systems are those that combine equity with quality. They give all
children opportunity for a good quality education. There should be policies in place for education
systems to help all children succeed in their schooling. School district should provide support to the
disadvantaged students and schools, as improving opportunities for them that benefit education
system and societies as a whole.
Students learn more in school that at home, so we should make sure that they get great education so
they will have all the tools to become successful in life. If we fail to do so, they will be penalized for
life. According to article "Equality and Quality in Education" published by OECD, the student who
leaves school without completing upper secondary education or without the relevant skills has fewer
life respects. This can be seen in lower initial and life earning, more difficulties in adapting to
rapidly changing knowledge–based economics, and higher risk of unemployment. The same child
will also have fewer chance of taking further learning opportunities and less able to participate in the
civic and democratic aspects of modern societies. Besides this educational failure

Analysis Of Daron Acemoglu And James A. Robinson 's Novel...
In Daron Acemoglu and James A. Robinson's novel Why Nations Fail, they describe the two
different types of institutions in which a government correlates, inclusive and extractive. Inclusive
nations are exceedingly democratic and create legislation to benefit the majority, while extractive
institutions are authoritative and limit the benefits to a small minority (84–89). A country's political
institution affects the accessibility to digital literature because of the improvement it enables. Digital
literature provides an accessible form of education that allows for people to not only research, but it
also makes it easier to come upon a sense of self–identity. Additionally, it sets a foundation for the
use of new technology and provides room for change. An education, an enlightening encounter
where one gains information they had not known prior to the experience, is ordinarily associated
with receiving a degree from a university. However, during the modern era a breakthrough resource
has been brought to life, one that allows for the massive consumption of wisdom without the
consternation that comes with spending thousands of dollars, the World Wide Web. The
popularization and practicality of the Internet has thus inevitably coined the present period the
Information Age. Among the different elements of the Internet, digital literature, which consists of
works that take advantage of the proficiencies a computer and other sources of digital media offer,
continues to become more

The Book By Daron Acemoglu And James A. Robinson Why...
The book by Daron Acemoglu and James A. Robinson Why Nations Fail: The Origins of Power,
Prosperity, and Poverty discusses theories that explain the differences in standards of living and
incomes among rich countries, such as the United States and the United Kingdom, and poorer
countries in regions of South Asia and Central America. The basic theme of the book is that nations
fail because of political institutions, rather than geography, culture, or economic policies. Acemoglu
and Robinson theorize that political institutions can be divided into two types: extractive institutions
where small groups of people take advantage of the population, and inclusive institutions when large
groups of people are included in decisions made by the ... Show more content on Helpwriting.net ...
Although extractive institutions can experience growth, the growth cannot be continuous without
what the authors call creative destruction.
Inside is a great contrast between nations, whether by the United States and Mexico, North and
South Korea, or the comparison between Bill Gates and Carlos Slim. By doing this, the book keeps
the reader engaged by jumping back and forth and showing the significant differences between the
countries, or people, being compared. The points are explained well through the history with the rise
and fall of the Romans to the rise of China out of nowhere. The focus on the changes is one of the
strengths shown in Why Nations Fail. The book goes into detail about how one simple detail can
trigger massive changes, such as in the 14th century during the Bubonic Plague. By discussing these
differences, it is easy to show how fragile infrastructures of nations are and how little it takes to shift
them.
Another big thing that Acemoglu and Robinson discuss is how countries shift from one institution to
another. These switches often occur during a revolution. One of the biggest determinants is whether
the revolution is narrow based or broad based. The French Revolution of 1789 is a good example of
broad based revolution. Why Nations Fail argues that the development of the Napoleonic regime is
because of the original broad–based nature of the French revolution. It is hard to make this claim,
however, due to the almost century that passed

The Great Divide Of The Global Village By Bruce R. Scott
In this essay, I will argue that the article "The Great Divide in the Global Village" by Bruce R. Scott
provides more logical and factual evidence that helps under the complexity of national economic
growth and development. Scott states a catching yet quick statement about how economical
promises of the world, both domestic and foreign are misleading. He states "Mainstream economic
thought promises that globalization will lead to a widespread improvement in average incomes."
However the evidence throughout the article that proves this statement is not valid. Scott's main
point revolves around this idea of globalization. Globalization can be defined as the process of
increasing the connectivity and interdependence of the world 's markets and businesses.
Globalization is the foundation of Scott's article it lays the groundwork for countries to succeed or
fail as explained by Scott in great detail. On the other hand, in the article "Why Nations Fail" by
Daron Acemoglu and James A. Robinson they paint an extremely different projection that I will
contrast and eventually show why it is inferior to Scott's work. Acemoglu and Robinson show that it
the man created political and economic institutions that underlie economic success or those who
lack it. They argue that economies thrive more when the presence of less government is involved.
Acemoglu and Robinson don't just explain in depth the similarities and differences in economic
policies between nations. They also give deep

Colonialism And Imperialism In Latin America
Throughout the first seven weeks of class, there were numerous readings on the effects of
colonization and imperialism. All the authors wrote about different points, using terms such as
formal and informal colonies, settler mortality rate, modernization and dependency theory, the
scramble for Africa, and more. They each have different arguments but all accurately mention the
strong after–effects colonialism and imperialism have on formerly conquered states. These
processes are exploitative, hinder state growth, and create devastating and long–term problems.
Daron Acemoglu, Simon Johnson, and James Robinson explain the reasoning behind the different
types of colonies. They believe that there are two main types of colonies: settler and extractive. ...
Show more content on Helpwriting.net ...
Contrasted with formal empires, which have territories directly under control of the colonizer,
informal empires control countries indirectly by using their economies. A notable example of this
would be India during British imperialism. Before India was even a colony, it was controlled
through the British East India Company, which eventually did turn into direct colonization. Informal
empires are generated because many developing countries are forced to rely on a major power in
order to be economically stable. Another author, Walter Rodney, similarly agrees that this system is
unfair. His dependency theory, which counteracts Rostow's modernization theory, states that many
struggling countries will never get to fully develop because rich states will always find a way to get
richer, making poor states poorer. This unjust system is often the lingering effect of imperialism and
colonization because a formerly controlled country still relies on their mother country even after
they gain

And Disadvantages Of Artificial Intelligence
ABSTRACT This paper discusses the advantage and disadvantage of Artificial Intelligence,
focusing on the ways AI is used to help, or hindered mankind. As AIs are making breakthroughs in
the medical field, increase safety, able to reduce human errors and carry tasks deemed dangerous to
humans, there is high hopes that AI will continue to benefit mankind, as long as humans manage to
keep it beneficial to mankind. Survey results showed that the majority of people trust AI in
healthcare and taking over mundane computer tasks by the year 2100. Several disadvantages are
also stated to show the limit of AI's capability. INTRODUCTION As technology progresses at an
exponential rate, unknown waters in technology, is being explored and ... Show more content on
Helpwriting.net ...
On one side, AI helps in the medical field, traffic and road safety, reducing human errors, and take
over jobs that would be deemed hazardous to humankind, and on the other side, AI could make
errors, misjudgement and miscalculation in the event of something happening outside of its
programmed capability, causing dependence on the technology, and causing unemployment. Though
as concerning the disadvantages are, AI is indeed a blessing to mankind, with one condition; quoting
the President of Future of Life Institute, Max Tegmark, "Everything we love about civilization is a
product of intelligence, so amplifying our human intelligence with artificial intelligence has the
potential of helping civilization flourish like never before – as long as we manage to keep the
technology beneficial" (M. Tegmark,

Inequality In Kenya Case Study
Country case study–part 2
Country– Kenya
Inequality, poverty and social protection: inequality in Kenya has decreased a lot in recent years
there are many types of inequality in Kenya such as income inequality, life expectancy inequality,
unemployment inequality between men and woman and education inequality. For example in Kenya
education inequality is good nearly every child in the central province has an education and attends
school however only one out of every 3 children in the north eastern province attend primary school
which is still low. Another inequality is the unemployment inequality between men and woman
there is 274,000 unemployed women compared to 73,000 men. , F. V. (2012) Heifer international |
charity ending hunger and poverty. Available ... Show more content on Helpwriting.net ...
There are many types of poverty in Kenya such as rural poverty and unemployment poverty.
Although Kenya's soil and land is the most favourable for long term work in east Africa but rural
poverty in Kenya is also strongly linked to environmental concerns so crops are damaged due to
poor water management and climate change is one of the big major factor of Kenya as I mentioned
in my first part of my country case study the climate changes rapidly in Kenya it has rainy season
and dry seasons which both damage crops and land. Another thing that causes poverty in Kenya is
unfair trade barriers, trading is a form of partnership and trading in Kenya is not equal on many
terms with other countries Kenya export coffee beans from their country but there is an unfair trade
between other countries Poverty in Kenya – unemployment, child labour & HIV (2003) Available at:
http://www.poverties.org/poverty–in–kenya.html. Kenya's social protection is a fundamental human
right for all citizens the commission for Africa union identified social transfers as a key tool in
fighting extreme poverty in Africa, Kenya is also signatory to the Livingston declarations of 2006 to
improve on the

Why Nations Fail By Daron Acemoglu And James A. Robinson
In the novel, Why Nations Fail, the authors Daron Acemoglu and James A. Robinson attempt to
provide an alternative explanation to the economic disparities seen in the modern world. The authors
argue throughout the book that political and economic institutions are the most important cause for
differences in economic performances across nations. Developed countries like the United States
and Great Britain took important steps in their history to move towards inclusive institutions, while
nations like the Congo and North Korea continue to maintain extractive institutions. In order to
support their argument, the authors cite numerous examples throughout history that demonstrate
how the adoption of inclusive institutions created a virtuous cycle in developed nations, resulting in
long–term prosperity. Nations with extractive institutions, however remain in a vicious cycle that
inhibit their ability to prosper economically. Acemoglu and Robinson make many compelling points
throughout the novel to support their claims regarding the importance of institutions by properly
explaining the difference between inclusive and extractive, their importance for sustained economic
growth, and using Great Britain as an example to cite institutions historical importance. The authors,
however could have strengthened their arguments by addressing the difficulties in implementing
institutions that are not suitable for the economic and political environments of certain nations. and
the potential for

Why Nations Fail By Daron Acemoglu And James Robinson
Why Nations Fail Book Report In Why Nations Fail, Daron Acemoglu and James Robinson show
that economic development is about more than just economics. Through a wide variety of natural
experiments ranging from Latin America, to Sub Saharan Africa, to East Asia, they argue that it is
institutions, both political and economic, that differentiate a country's economic success.
Specifically, they separate institutions into inclusive and extractive. Inclusive political institutions
engage the entire population, while extractive political institutions are ruled by an elite minority.
Similarly, inclusive economic institutions promote property rights and competitive markets, while
extractive economic institutions create monopolies and funnel wealth to the elite minority. The
novel part of their thesis is the idea in order to have sustainable inclusive economic institutions, a
country must first have inclusive political institutions. It is only when a country has inclusive
economic and political ... Show more content on Helpwriting.net ...
Daron Acemoglu and James Robinson do an incredible job of simplifying a complicated topic for a
general audience. They address most major counterarguments and provide in–depth and convincing
stories from history that support the importance of inclusive institutions. However, when you
simplify a topic, it is much more difficult to make rigorous arguments. Additionally, Acemoglu and
Robinson's framework for analyzing development fails to account for India and China. Therefore, it
was successful in analyzing past economic development, but largely fails to predict future
development. Nevertheless, it is indisputable that inclusive institutions are much more beneficial for
an entire population than extractive institutions. Researchers and advocates just need to remember to
look at the entire economic picture of a country, instead of only one indicator when making
decisions about economic

Who Is Daron Acemoglu And Robinson: Was It Historically...
In this week's reading, authors Daron Acemoglu and James Robinson pose the following question:
Was it historically predetermined that the United States, Western Europe, and Japan would become
far more economically prosperous than sub–Saharan Africa, Latin America, and China? Was it also
inevitable that the Industrial Revolution would begin in Britain, subsequently spreading to Western
Europe as well as North America, even to making its way to Australasia?
The reading begins with the authors posing their main question (previously mentioned) and by
formulating the theory they will use to answer said question. They state "our theory has attempted to
achieve this by operating on two levels. The first is the distinction between extractive and inclusive
... Show more content on Helpwriting.net ...
In short, I believe that although it was not predetermined that Western Europe, the United States,
and Japan would become the richest countries in the world today, it was inevitable that the Industrial
Revolution would take place in Britain and subsequently spread to the US and other Western
European countries. In order to help support this theory, one must look back to the pre–industrial
stages of all of these regions, but for the sake of the argument let's narrow it down to Britain and
sub–Saharan Africa. Before industrializing, Britain had just experienced an Agricultural Revolution
which was single–handedly the greatest determinant of why Britain was the first country in the
world to industrialize. Food prices had reached an all–time low, allowing families to spend more
money on manufactured goods. The population had increased tremendously which in turn lead to a
surplus of workers ready for jobs in new industries. Compare this to Africa, which at the same time
revolved around a tribal system as its primary form of government, and it becomes clear as to why
Britain was the first country in the world to industrialize. Britain had a much better head start on the
process of industrialization in comparison to Africa, which in some areas, still has yet to
industrialize to the standards of Britain in the seventeen–hundreds. Britain had gone through the
Enlightenment and the English Renaissance which allowed its people to formulate ideas, invent
commodities, and generally advance much more rapidly than the entirety of Africa ever

The American And French Revolutions
The American & French Revolutions The American Revolution and French Revolution were unique
in world history because they used the ideas of freedom and equality from the Enlightenment, but
understood them differently at the same time. Both revolutions occurred around the same time– the
18th Century, the American Revolution began on the 4th of July when Thomas Jefferson wrote the
Declaration of Independence (Dr. Taylor). The French Revolution then follows in 1789, provoked by
"...a greater demand for food and consumer goods" and " the social structure of the West"
(Encyclopedia Britannica). Although they ended with different results, France later reverted from a
republic back to a dictatorship when Napoleon rose to power (Acemoglu, Cantoni, Johnson,
Robinson 13 ; Godechot). This merely one example of how France differed from the patriotic
colonists of America. To begin, the French Revolution held two elements that make it special,
influence by the Enlightenment, as well as its inclusion of women. According to Dr. Landes'
"Women and the Public Sphere in the Age of the French Revolution", " Despite the excessively
personal and patriarchal character of Old Regime monarchical power, women of the period
participated in and influenced political events and public language" (Landes 2). The quote explains
the involvement of women, opposite of the usual removal of female voice, especially in times before
equal right arose in countries such as the United States. This may have

Annotated Bibliography : Types Of Leftist Governments
Steven Venegas
July 23, 2016 Annotated Bibliography
Question: What preexisting or absent institutions have led Latin American nations to see a
divergence in the types of leftist governments in power?
Group 1: Party Systems and Political Institutions
French, John. 2010. "Many Lefts, One Path? Chavez and Lula." In Latin America's Left Turns:
Politics, Policies, and Trajectories of Change. Eds. Maxwell A. Cameron & Eric Hershberg.
Boulder, Colorado: Lynne Rienner Publishers, Inc. 41–60.
French poses that "the key to unity that exists in within the left's diversity... can be found in the
notion of the left as a space of convergence across difference based on a common anti neoliberal
politics." (French, p. 42) This idea allows for an ... Show more content on Helpwriting.net ...
All of these features of a regime, if disrupted or altered, could be the difference between a stable
democracy and it demonstrating a radical archetype of ascendancy. After explaining both
alternatives, Mainwaring comes to the conclusion that "Presidentialism and a fractionalized multi
party system seems especially inimical to stable democracy" in that they are conducive to gridlock
between the executive and legislative branches of government. (Mainwaring, p. 168)
Levitsky, Steven, and Kenneth M. Roberts. The Resurgence of the Latin American Left. Baltimore:
Johns Hopkins UP, 2011. Print.
Theorists Steven Levitsky and Kenneth Roberts articulate two divergent paths that the left took as a
result of their party systems and political institutions, or lack there of. The two give light to the
divergence of an institutional path and a populist path, which they are able to closely associate to
various political regimes currently in power throughout Latin America. This further branches out
how even following the presidential path, rather than parliamentary, can see more divisions.
Mainwaring, Scott. "Presidentialism, Multipartism, and Democracy: The Difficult Combination."
Comparative Political Studies. Vol. 26: July 1993. Pp. 198–228.
Noting that multipartism isn't conducive for the consolidation of democracy and that there are many
regimes following the

Personal Statement For Economics
The dynamics of today's constantly evolving world, drawn together by increasingly intertwined
economies and global markets has always intrigued me, ever since I was a young undergraduate.
What fascinated me most about economics was the effort to mathematically model this dynamic
driven in part by human behavior and social tendencies. During my undergraduate study, I got an
opportunity to explore various facets of global markets and got a chance to work on several
academic projects to empirically model economic theories. At the same time, I received the
opportunity to intern at Ernst and Young Financial Services, where I realized the vast potential of
empirical asset pricing and financial modeling. I realized the power of advanced data ... Show more
content on Helpwriting.net ...
In order to understand this link, I developed a multivariate regression model using panel data from
four South East Asian economies by programming using statistical software Stata. I used a variety of
techniques including bootstrapping, Generalized Least Square regression as well as a clustered
regression model as robustness checks for the model. This opportunity gave me a chance to explore
global financial markets from a macroeconomic perspective. At the same time, it gave me a chance
to get acquainted with the vast literature in the field including the works of Professor Daron
Acemoglu. During my graduate academic and research experience at Columbia, I developed an
inclination towards quantitative finance, particularly asset pricing theories and the empirics involved
in modeling the same. At the same time, while studying Choice theory and Microeconomics under
Professor Ortoleva and Professor Bernard Salanie, I realized the role of irrational human behavior in
driving economic decision processes of institutions. I developed a curiosity to explore and design
innovative empirical techniques to model various elements of cognitive psychology and social
tendencies into traditional asset pricing framework. This curiosity motivated me to pursue a Ph.D. in
Finance and follow a long–term career in academic research. What makes Stanford my first choice
is the rigor and intensity of its curriculum

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