Persistence, of Power, Elites, and Institutions and Missing the Story The two articles Persistence, Power, Elites, and Institutions and Missing the Story both concentrate on the fact that the impact of institutions on economic outcomes depends on the interaction between de jure political power, political institutions, and de facto political power, the investments and organizations of different groups. In the first article by Acemoglu and Robinson, these ideas are developed into a model consisting…
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