Why Nations Fail and Robber Barons Succeed with Dr. James Robinson!

Welcome to Capital Account. It has been more than 10 years since Argentina defaulted on its debt, but the saga continues with creditors to this day. Last week a New York court ruled harshly against Argentina and the decision could erode the ability of countries to spurn creditors in the future, according to the FT. But what has influenced the economic development of Latin American countries, like Argentina, versus their northern neighbors? James Robinson, the author of Why Nations Fail, tells us why economic prosperity as primarily a function of political institutions is crucial for a nation’s health and survival.