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Business and accountable governance in Nigeria: The obligations of leadership (3)

Business and accountable governance in Nigeria: The obligations of leadership (3)

There is also the American Revolution (1787), the Meiji Revolution (1860) in Japan and the communist revolutions in Russia (1917) and later in China (1947). The incomplete revolution in Korea led to the division of the Korean peninsula to North and South Korea with two political and economic systems. As we can surmise not all revolutions ended in inclusive political and economic systems. As it has been observed, the rich countries of today are those that undertook the journey of industrialisation and technological change and the poor ones are those that did not. As Acemoglu and Robinson have stated: “World inequality exists today because during the 19th and 20th centuries, some countries were able to take advantage of the Industrial Revolution and the technologies and methods of organisation that it brought while others were unable to do so. Technological change is not only one of the engines of prosperity, it is the most critical one”.

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