The authors convincingly show that countries escape
poverty only when they have appropriate economic
institutions, especially private property and competition.
More originally, they argue countries are more likely to
develop the right institutions when they have an open
pluralistic political system with competition for political
office, a widespread electorate, and openness to new
political leaders. This intimate connection between political
and economic institutions is the heart of their major
contribution, and has resulted in a study of great vitality on
one of the crucial questions in economics and political
economy.”