Why Nations Fail by Daron Acemoglu- Book Review

Recipe for Success!

We tend to believe that the People and the Land make up the Nation - and hence the ability of the people and the quality of the land whether it is the geography or the availability of natural resources that determines whether a Nation will succeed or fail. But in this well researched book the authors show that it is the nature of the political and economic institutions which a nation creates that determines success or failure.

Authoritarian political institutions and extractive economics institutions are recipes for failure. But why do some countries or even adjacent cities develop them while their neighbors get democracy and inclusive economic institutions? Small initial differences going back hundreds of years which divert nations in different directions, contingent events, calamities, great personalities all explain the destinies of nations.

Covering countries from the West and the East, from Africa to Indonesia, from Australia to Antartica, the authors have a done a great job covering history, politics and economics and providing such insights that the book is a pleasure to read. There have never been a doubt that with free markets and equal opportunity, people from all backgrounds and nationalities can do well. For many decades we have seen immigrants from the world over get to the shores of the United States and do exceedingly well. But it had been difficult to understand why America developed they way it did while neighboring Mexico went down the other way. Or countries like China and India with ancient civilizations and colorful histories ended up being poor nations with millions on impoverished people. And why are they able to now rise back? And which model will succeed? Read the book to find out - you will not regret the effort.

I wish they can make this a compulsory read for all politicians......

My 2nd Innings!

The Creative Destruction of Medicine by Eric Topol (Book Review)

Doctors Beware!

Every revolution shows the incumbents in poor light - they look foolish, stubborn and indecisive. Eric Topol shows how breakthrough growth in mobile phones, wireless technologies and genomics, and their convergence is revolutionizing Medicine and Healthcare but the current 'high priests' whether it is doctors or the bureaucracy dont seem to be getting it. Nevertheless the flow seems to be irreversible as informed consumers empower themselves and push for new solutions that will provide better care, cheaper and more effective medicines, and democratize the healthcare system. Topols' stories about the shortcomings on the current system are scary and he is very tough on the members of his profession. Other players in the ecosystem like the Pharma companies also do not escape his sharp criticism. He will not be making many friends with this book - however it will be tremendously useful to the readers in multiple ways - as an individual on how to plan for your healthcare, as a student on planning your career, as an investor or entrepreneur for understanding opportunities that would create revolutionary wealth!. For people in the healthcare profession this should be a wake up call. I would urge all to read this book.

Getting Smart by Tom Vander Ark

Transforming Education through Personal Digital Learning!


We are all learners. If you are not learning something new every day, you might as well be dead. However opportunities for formal learning were very limited till a few years back. Access to content, teachers and facilities were limited to a privileged few in the world. That is now changing – digital technologies, cheap and high bandwidth internet connections and a global bunch of eduprenuers are now offering learning opportunities to all – irrespective of where you are and how much money you have.

Tom Vander Ark shows in ‘Getting Smart’ how this wave is transforming education across the world and what students, parents, teachers, leaders, and investors should do to take advantage of this revolution. Tom starts of the book by explaining what ‘personal digital learning’ is, and how it can overcome the current challenges faced by the American education system. Then in separate chapters on ‘Customization – building the right playlist for each student’, ‘Motivation- getting everyone into the learning game’, ‘Equalization – Connecting all students to Excellence’, ‘Integration – putting it all together to make schools smarter’, ‘Innovation – Policies that will make it happen’, ‘Investment – paying for innovation’, and finally ‘Employment – changing our job descriptions’ , Tom brings it all together to make you smarter.

Each chapter has clear predictions on future trends over the next five to ten years and very interesting links to a number of companies and organizations across the world that are active players in this domain. For any one interested in learning or in the future of education, this book is a must read.

The God Species by Mark Lynas - Book Review

Achieving sustainable growth within the Planetary boundaries




Global warming has been a `hot' topic for some time - but this book is not just about global warming and climate change. Going much beyond that, Mark Lynas takes us though the concept of planetary boundaries - ecological limits of the Earth's systems crossing which can push the planet into a death spiral. The book describes nine such planetary boundaries and they are: (1) Biodiversity loss (2) Climate change (3) Nitrogen cycle (4) Land use change (5) Global Fresh water use (6) Chemical Pollution (7) Atmospheric aerosol loading (7) Ocean acidification (8) Stratospheric Ozone depletion. Specific boundary limits and current data are provided for all boundaries except two - items 6 and 7. Explaining the basic science in detail, Mark shows that the debate should move from whether the dangers are real or not to how we should tackle them. More importantly, Mark shows that how many of them are interlinked and a hasty approach to solving any one of them without understanding the connected implications can lead to severe problems.

Moving himself away from the traditional Green ideologies, Mark agrees with Stewart Brand in pushing for Nuclear Power, Genetic engineering and promoting urban living. Mark also demolishes the current popular notion especially among the Republicans in the U.S that measure for protecting the environment is economically counter productive and can retard growth. The most important takeaway for me from this book was that while ecological limits are real, economic limits are not.

I found myself in agreement with most of the concepts developed by the author but am still not convinced about Nuclear power. More data will be needed to convince the public about the safety of nuclear energy, and author's handling of Chernobyl and Fukushima does not match the depth shown in other areas. I had also visited Chernobyl recently and was amazed at the effort still need to contain the contamination. Mark makes no mention of the new cover being built to cover the Chernobyl plant which hopefully will keep it safe for the next 100 years.

Though the book starts off with the developments in genomics, further coverage in the book on DNA sequencing and its potential is very limited. But the author does bravely go into articulating that sooner or later, our species would have to play `God' and take more active efforts in managing the planet through the use of our Science & Technology.