Law, Business and Society 11th Edition by Tony McAdams

Exercise 73

Scholars Daron Acemoglu, James A. Robinson, and Thierry Verdier have argued that the United States would hurt world growth if it adopted the "cuddly capitalism" of Scandinavia. For the United States to maintain its vital role of chief global innovator, Acemoglu and Verdier say that America must maintain an economic system that generously rewards successful innovators which "implies greater inequality and greater poverty (and a weaker safety net) for a society encouraging innovation." Do you agree Explain.