Acemoglu Quotes & Sayings

You are what you eat and read. — Maya Corrigan

Our wishes become real and solid if we work on their formation. If it matters to you, make energy become matter. — Patricia Robin Woodruff

If you have seen in silent prayer
How the soul of the earth fashions crystals,
If you have seen the flame in the growing seed
And death in life and birth in decay,
If you have found brothers in men and beasts,
And if you recognized in the brother, the brother and God,
Then you will celebrate at the table of the holy grail
Communion with the messiah of love.
You will search and you will find, just like God said,
The way to the lost paradise. — Manfred Kyber

Recasting all complex social situations either as neatly defined problems with definite, computable solutions or as transparent and self-evident processes that can be easily optimized - if only the right algorithms are in place! - this quest is likely to have unexpected consequences that could eventually cause more damage than the problems they seek to address. — Evgeny Morozov

Inclusive economic institutions require secure property rights and economic opportunities not just for the elite but for a broad cross-section of society. — Daron Acemoglu

There is nothing on earth that can satisfy our deepest longing. We long to see God. The leaves of life are rustling with the rumor that we will - and we won't be satisfied until we do. — Max Lucado

I need to work on defensive play and being consistent. — Sidney Crosby

Can you imagine anyone making wine because it tastes like strawberries? — Ernest Hemingway,

Desire has no history... — Susan Sontag

Bay in January 1788 under the command of Captain Arthur Phillip. On January 26, now celebrated as Australia Day, they set up camp in Sydney Cove, the heart of the modern city of Sydney. — Daron Acemoglu

But given the changes that had already taken place in economic and political institutions, long-run repression was not a solution in England. The Peterloo Massacre would remain an isolated incident. Following the riot, the political institutions in England gave way to the pressure, and the destabilizing threat of much wider social unrest, — Daron Acemoglu

Where was innovation to come from? We have argued that innovation comes from new people with new ideas, developing new solutions to old problems. In Rome the people doing the producing were slaves and, later, semi-servile coloni with few incentives to innovate, since it was their masters, not they, who stood to benefit from any innovation. As we will see many times in this book, economies based on the repression of labor and systems such as slavery and serfdom are notoriously noninnovative. This is true from the ancient world to the modern era. In the United States, for example, the northern states took part in the Industrial Revolution, not the South. Of course slavery and serfdom created huge wealth for those who owned the slaves and controlled the serfs, but it did not create technological innovation or prosperity for society. N — Daron Acemoglu

Because elites dominating extractive institutions fear creative destruction, they will resist it, and any growth that germinates under extractive institutions will be ultimately short lived. — Daron Acemoglu

academic literature. Major influences on my thinking include Douglass North, who won the Nobel Prize for Economics for his work on institutions; the pre-eminent economist of modern Africa, Paul Collier, author of The Bottom Billion and Plundered Planet; Hernando de Soto, the Peruvian economist and author of The Mystery of Capital; Andrei Shleifer and his numerous co-authors, who have pioneered an economic approach to the comparative study of legal systems; and Jim Robinson and Daron Acemoglu, whose book Why Nations Fail asks similar questions to the ones that interest me. — Niall Ferguson

Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. It is the political process that determines what economic institutions people live under, and it is the political institutions that determine how this process works. — Daron Acemoglu

Jus hold me a little longer, Jack. Tell me again that ya wanna be with me, fer real, cross yer heart 'n' let me know you ain't foolin', cause I dunno how or when it happen but somehow I come ta need ya like air, like blood. Touch me again like ya do with them gentle hands make me feel like somethin' precious. Say it again that ya love me, cause hearin' that was like openin' up some big bottomless well that ran dry years back and it cain't never be full enough now, I cain't never hear it enough, but once more, one more time and maybe I'll believe it a little more, and then a little more the next time, till someday I believe it fer true enough ta be able to say it back ta you like y'oughta hear it said cause God knows I love you more'n my own life, more'n anythin' in this world, but it cain't get outta me yet cause I still ain't the man I need ta be, the man who's gonna stand before you and declare. — Jane Seville

Some time ago a little-known Scottish philosopher wrote a book on what makes nations succeed and what makes them fail. The Wealth of Nations is still being read today. With the same perspicacity and with the same broad historical perspective, Daron Acemoglu and James Robinson have retackled this same question for our own times. Two centuries from now our great-great- ... -great grandchildren will be, similarly, reading Why Nations Fail. — George Akerlof

Central planning was just not good at replacing what the great eighteenth-century economist Adam Smith called the "invisible hand" of the market. When the plan was formulated in tons of steel sheet, the sheet was made too heavy. When it was formulated in terms of area of steel sheet, the sheet was made too thin. When the plan for chandeliers was made in tons, they were so heavy, they could hardly hang from ceilings. — Daron Acemoglu

Whatever you expect, you will get. So expect success, not regret. — Debasish Mridha

I am not bound over to swear allegiance to any master; where the storm drives me I turn in for shelter. — Horace

Pluralism also creates a more open system and allows independent media to flourish, making it easier for groups that have an interest in the continuation of inclusive institutions to become aware and organize against threats to these institutions. It is highly significant that the English state stopped censoring the media after 1688. The media played a similarly important role in empowering the population at large and in the continuation of the virtuous circle of institutional development in the United States, as we will see in this chapter. — Daron Acemoglu