Awardees of the Nobel prize in economics, so likely worth a listen.

Inclusive political institutions lead to inclusive economic institutions. Extractive political institutions lead to extractive economic institutions. All of these are self reinforcing. They lead to self reinforcing loops and spirals. 

Historic contingencies emerge and the balance of institutional power nudge the likely direction the power will break further. At these tip points individuals with power can further nudge the direction of the spiral. 

The authors set this up as their answer to any of the competing great arc theories, geographic or cultural (as exemplified in guns germs and steel and the like) or racial determinism or naked great man theory. 

Dense and thorough, likely best on audiobook. Strong explanatory value but with fairly simplistic policy implications: 

Generally the right answer is more inclusion. 

Examples abound.