"Why Nations Fail" is a great book - full of examples. Two cases impressed me. The fall of the Roman Empire and the loss of power of the great Venetian Republic.
In the case of the Roman Empire the author shows how the fall of Rome began when it transitioned from a republic to being lead by an emperor.
Venice was a strong republic when people could rise to position of leadership and political power because of their experience in commerce and leaders of commercial flotillas. Venice's power waned when the access to political power was greatly restricted.
The lesson is the same. This is one of the main reasons I believe China or Russia will never be economically powerful countries as long as political power is highly concentrated.
George Dagnino, PhD
Editor
The Peter Dag Portfolio
Since 1977
The Peter Dag Portfolio
Since 1977
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