COLLECTIVE INSTITUTIONS IN INDUSTRIALIZED NATIONS

Societies are comprised of institutions. Wherever there are rules there are institutions. In an era of free market democratic capitalism, some vital institutions that make societies to be prosperous, are either ignored or taken for granted. This is not surprising knowing there has been institutional evolution over time and contemporary strong institutions are results of historical institutions. This book illustrates historical collective social institutions that are catalysts for modern day’s economic successes, and lack of such historical institutions contribute to economic failures in some nations especially nations of sub-Saharan Africa.