Book discussion on Why Nations Fail? By Nobel Laureates 2024 held

Raipur(Team Newsbuddy): Book discussion event on Why Nations Fail? written by Nobel Laureates 2024, Daron Acemoglu, Simon Johnson and James A Robinson wasb organized in the School of Studies in Economics, Pt. Ravishankar Shukla University, Raipur (C. G) under the aegis of Departmental Books Club . The panellist of the event are Dr. Ravindra K Brahme , Professor & Head, SoS in Economics, Angaja Khankeriyal and Prashant Panche, Alumni SoS in Economics, Pt. Ravishankar Shukla University, Raipur (C. G). The discussion was initiated by panellist Khankeriyal by describing how institutions play an important role in the process of economic development. She has also discussed about critical conjecture and institutional drifts which that has taken place in Europe. The second panellist Panche has discussed about institutionalism thought of economic development by giving examples from United States of America. He has also thrown light on rule of law and law of rule practices of China and North Korea. The third panellist Prof. Ravindra K Brahme has started the discussion by quoting that Institutions play an important role in the development of a nation. He has given example of the City Nogales which has some part in USA and the other in Mexico and highlighted that even though there is same geographical, climatic and cultural arena, institutional set up is different in both the regions. Further, he has focused on European Colonial Institutions and gave reasons for making this type of institutions. He opined that because of the absence of the institutions, economic growth is not taking place. The nations where there were institutions, they were progressing and on the contrast, where there were no institutions, they were not progressing. He has concluded his discussion by giving examples of Black Death of Europe and Glorious Revolution of United Kingdom.

Professor B.L. Sonekar, the Convener of the event in his welcome address has discussed about the history of Nobel Prize and the importance of organising book discussions in the academic sphere. Dr. Archana Sethi, Assistant Professor, SoS in Economics in her concluding remarks has thrown light on the areas of concern in the process of economic development. C. K. Verma along with research scholars and students of M. A first and third semesters were attended the event. The vote of thanks was proposed by Dr. Pragati Krishnan, the coordinator of the event and the event was hosted by Harshit Rao Ransingh, student of first semester.