Why nations FAIL?

I just have stared reading this book (Why nations fail) to gain some perspective of societal power and institutions. The books states comparative history of nations who made it to the edge of development and those who failed to even start the cycle of prosperity. Since new technological developments are shaking the foundations of our system, its important to know what the existing system has offered us in the past and what can be the extrapolations of such scenarios.

Likewise Steemit is a new society of mixed individual which would need such insights.

I will periodically update my understanding and gains on this topic. Stay tuned.