THE POLITICAL UNDERPINNINGS OF PROSPERITY AND POVERTY

The vast differences in economic development in the world are most likely caused by differences in
institutions that create very different patterns of incentives and opportunities. The Chinese save and invest
like mad, while in Congo there are no roads. This course asks: why? We take the view that institutions are
collective choices and therefore the outcome of political processes. Thus the study of comparative economic
development reduces to a series of questions about comparative politics; why do different countries make
such different choices?; how do their political institutions influence those choices?; how is power distributed
and how is it constrained or directed in the interests of society? The course both introduces the puzzles, some
basic theoretical models which can help us think about these questions and the relevant social science
evidence, though there are many things we don’t really understand (which makes it a very good course for
your people!)