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Inclusive institutions promote equality and opportunity from "summary" of Why Nations Fail by Daron Acemoglu,James A. Robinson
Inclusive institutions are those that provide a level playing field for all individuals in society, regardless of their background or circumstances. These institutions are characterized by equality of opportunity, where individuals can succeed based on their own merits rather than on factors such as wealth, connections, or political influence. Inclusive institutions create an environment that fosters innovation, entrepreneurship, and economic growth by allowing talented individuals to rise to the top, regardless of their social status. By promoting equality and opportunity, inclusive institutions not only benefit individuals but also the society as a whole. When everyone has a fair chance to succeed, it leads to greater social mobility and a more dynamic economy. Inclusive institutions enable people to pursue their ambitions and fulfill their potential, which in turn leads to higher levels of productivity and prosperity for the nation. In contrast, extractive institutions are those that concentrate power and resources in the hands of a few elites, at the expense of the rest of society. These institutions create barriers to entry for the majority of the popul...
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