Congrats to AJR! 🌟 They are brilliant.
But I don't agree with their idealized portrayal of institutions in Western development
It is historically inaccurate, if not ideologized
Thus, not only do they struggle to explain China, they also can't explain why Western economies like the US prospered despite being as corrupt as China is today
Yuen Yuen Angx.comCongrats to AJR! 🌟 They are brilliant. But I don't agree with their idealized portrayal of institutions in Western development It is historically inaccurate, if not ideologized Thus, not only do they struggle to explain China, they also can't explain why Western economies like the US prospered despite being as corrupt as China is today
Let's stop celebrating creator funds, incremental creator features, and shallow rhetoric about creator empowerment.
All of these will fail to solve creators' economic precarity, so long as we fail to fix the fundamental issue, which is OWNERSHIP.
descriptiontwitter.com... See moreAlthough the West’s combination of markets plus science/technology does generate learning (companies die, startups replace them etc), our political institutions show little-to-no sign of learning in how they deal with things like state competition and war. Patterns of failure recur reliably hence books like Thucydides and Sun Tzu remain cutting edg
Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex.
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western... See more
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western... See more