Why Nations Fail

This is not an article about Haiti….but it could be.

“Inclusive economic institutions that enforce property rights, create a level playing field, and encourage investments in new technologies and skills are more conducive to economic growth than extractive economic institutions that are structured to extract resources from the many by the few,”

their core point is that countries thrive when they build political and economic institutions that “unleash,” empower and protect the full potential of each citizen to innovate, invest and develop. Compare how well Eastern Europe has done since the fall of communism with post-Soviet states like Georgia or Uzbekistan, or Israel versus the Arab states, or Kurdistan versus the rest of Iraq. It’s all in the institutions.

Read more: http://www.nytimes.com/2012/04/01/opinion/sunday/friedman-why-nations-fail.html?src=recg

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About fromourisland

Gardener, knitter, wife, mother of 2, grandmother, and lots more.
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