Human capital and the value of institutions (as measured by rule of law) constitute the largest share of wealth in virtually all countries.
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If only there were evil people somewhere insidiously committing evil deeds, and it were necessary only to separate them from the rest of us and destroy them. But the line dividing good and evil cuts through the heart of every human being. And who is willing to destroy a piece of his own heart?
— Aleksandr Solzhenitsyn
— Aleksandr Solzhenitsyn
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1 comment:
This is a fascinating article.
I once asked my Dad, who grew up in India, why India still lags the US in terms of wealth if the countrie's population is so high and they are so smart?
His answer was: "The Rule of Law".
Looks like he was right.
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