Is Shleifer's work criticized for being too deterministic?
Some have argued that our emphasis on legal origins can appear too deterministic, suggesting that a country's fate is sealed by its historical legal roots. However, our aim is not to claim that historical origins are immutable. Rather, we highlight these deep-seated institutional differences as powerful explanations for observed disparities in economic outcomes and corporate behavior, emphasizing that understanding these origins is crucial for effective policy.
Ask Andrei Shleifer the follow-up →