Quotes About Extractive

NATIONS FAIL TODAY because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate. Extractive political institutions support these economic institutions by cementing the power of those who benefit from the extraction.

The most common reason why nations fail today is because they have extractive institutions.

We call such institutions, which have opposite properties to those we call inclusive, extractive economic institutions—extractive because such institutions are designed to extract incomes and wealth from one subset of society to benefit a different subset.

Our theory has attempted to achieve this by operating on two levels. The first is the distinction between extractive and inclusive economic and political institutions. The second is our explanation for why inclusive institutions emerged in some parts of the world and not in others. While the first level of our theory is about an institutional interpretation of history, the second level is about how history has shaped institutional trajectories of nations. Central

Her conclusion was that the Mughal state was unusually extractive and appropriated 56.7 per cent of the total produce. Her research focused on five north Indian provinces: Agra, Delhi, Lahore, Allahabad and Avadh. The total

Our economic system, run for profit and waste and based primarily on the extractive industries, is the cause of climate change. We have wasted the earth's treasure and we can no longer exploit it cheaply.

in Why Nations Fail, Daron Acemoglu and James Robinson emphasize the importance of legal institutions (and other state institutions) that are "inclusive" through rights and incentives equally available to all people rather than "extractive" (that is, designed to extract resources from the many for the few) if countries are to experience sustained economic growth.15

We face so many overlapping and intersecting crises that we can't afford to fix them one at a time. We need integrated solutions, solutions that radically bring down emissions while creating huge numbers of good, unionized jobs and delivering meaningful justice to those who have been most abused and excluded under the current extractive economy.

The collusion between corporations and the state has been so boorishly defiant that it's almost as if the communities standing in the way of these projects are viewed as little more than overburden - that ugliest of words used by the extractive industries to describe the waste earth that must be removed to access tar sands or mineral deposit.

two square yards of public land. Their arbitrary act of expropriation cost Mohamed Bouazizi his livelihood and his life. But his self-immolation sparked a revolution Ã¢â'¬â€œ though how glorious a revolution remains to be seen. It will depend on how far new constitutional arrangements in countries like Tunisia and Egypt achieve the shift from an extractive to an inclusive state, from the arbitrary power of rent-seeking elites to the rule of law for all.

The soft extractive note of an aged cork being withdrawn has the true sound of a man opening his heart.

We call such institutions, which have opposite properties to those we call inclusive, extractive economic institutions—extractive because such institutions are designed to extract incomes and wealth from one subset of society to benefit a different subset. E

Though the policies of Stalin and subsequent Soviet leaders could produce rapid economic growth, they could not do so in a sustained way. By the 1970s, economic growth had all but stopped. The most important lesson is that extractive institutions cannot generate sustained technological change for two reasons: the lack of economic incentives and resistance by the elites.

The people who suffer from the extractive economic institutions cannot hope for absolutist rulers to voluntarily change political institutions and redistribute power in society. The only way to change these political institutions is to force the elite to create more pluralistic institutions.

Nations fail when they have extractive economics institutions, supported by extractive political institutions that impede and even block economic growth. But this means that the choice of institutions--that is, the politics of institutions--is central to our quest for understanding the reasons for the success and failure of nations.

authoritarian regimes currently experiencing some growth are likely to reach the limits of extractive growth before they transform their political institutions in a more inclusive direction—and in fact, probably before there is any desire among the elite for such changes or any strong opposition forcing them to do so.

Even though extractive institutions can generate some growth, they will usually not generate sustained economic growth, and certainly not the type of growth that is accompanied by creative destruction.

Breaking another mold: Rosa Parks challenges extractive institutions in the U.S. south The Granger Collection, NY

will refer to political institutions that are sufficiently centralized and pluralistic as inclusive political institutions. When either of these conditions fails, we will refer to the institutions as extractive political institutions.

The Communist economic institutions were in turn supported by extractive political institutions, concentrating all power in the hands of Communist parties and introducing no constraints on the exercise of this power. Though these were different extractive institutions in form, they had similar effects on the livelihoods of the people as the extractive institutions in Zimbabwe and Sierra Leone.

Attempting to engineer prosperity without confronting the root cause of the problems—extractive institutions and the politics that keeps them in place—is unlikely to bear fruit.

Los países fracasan hoy en día porque sus instituciones económicas extractivas no crean los incentivos necesarios para que la gente ahorre, invierta e innove.

The solution to the economic and political failure of nations today is to transform their extractive institutions toward inclusive ones. The vicious circle means that this is not easy. But it is not impossible, and the iron law of oligarchy is not inevitable.

NATIONS FAIL TODAY because their extractive economic institutions do not create the incentives needed for people to save, invest, and innovate. Extractive political institutions support these economic institutions by cementing the power of those who benefit from the extraction. Extractive economic and political institutions, though their details vary under different circumstances, are always at the root of this failure.