Direitos de propriedade são importantes, mas não do modo como muita gente prega. Acemoglu, Johnson e Robinson (2004, p. 9) explicam bem o que são "boas instituições":
Ou seja, não é mera defesa do status quo.
For example, a set of economic institutions that protects the property rights of a small elite might not be inimical to economic growth when all major investment opportunities are in the hands of this elite, but could be very harmful when investments and participation by other groups are important for economic growth (see Acemoglu, 2003b). To avoid such a tautology and to simplify and focus the discussion, throughout we think of good economic institutions as those that provide security of property rights and relatively equal access to economic resources to a broad cross-section of society. Although this definition is far from requiring equality of opportunity in society, it implies that societies where only a very small fraction of the population have well-enforced property rights do not have good economic institutions.
Ou seja, não é mera defesa do status quo.
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