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Extractive political institutions enrich the few at the expense of the many from "summary" of Why Nations Fail by Daron Acemoglu,James A. Robinson
In societies with extractive political institutions, power is concentrated in the hands of a narrow elite who use their control to extract resources from the rest of the population. This extraction can take many forms, from outright theft to predatory taxation and corruption. The result is that the elite become rich at the expense of the majority of people who are left impoverished. This process of extraction creates a vicious cycle where the elite use their wealth and power to entrench their control over the political system, making it even harder for the rest of the population to challenge their dominance. This leads to a further concentration of resources in the hands of the few, exacerbating the inequalities in society. The consequences of this system are far-reaching. Not only does it lead to widespread poverty and suffering among the majority of the pop...
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