Colonialism perpetuated extractive institutions from "summary" of Why Nations Fail by Daron Acemoglu,James A. Robinson
Colonialism played a crucial role in shaping the institutions of many nations around the world. The European powers that colonized various regions did not have the best interests of the local populations in mind. Instead, they were primarily focused on extracting resources and wealth from these regions to benefit themselves. This led to the establishment of extractive institutions that were designed to exploit the resources of the colonized nations for the benefit of the colonial powers.
These extractive institutions were characterized by a lack of property rights, limited access to education and economic opportunities, and a concentration of power in the hands of a few elites. This system was designed to ensure that the resources of the colonized nations could be easily extracted and exported back to the colonial powers. As a result, the local populations were often left impoverished and marginalized, with littl...
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