Excellent, foundational book. For those claiming that Western powers plunder low income countries, let me tell you: local elites need nobody's help to do just that. Y'all read the -easy to read- book ("Why Nations Fail") and let me know what you think. Admittedly, doesn't exactly jive with the woke crap ideology Kamala's handlers use to manipulate the little snowflakes. They despise small fry so much that they're confident they can have that cardboard cutout of a candidate easily elected. And they have a good chance of succeeding. We'll find out shortly. Heading to the poll right now.
For example bureaucracy and overboarding administration in a country can lower the potential for growth too. So the level of effective administration must be also considered as an important factor when it comes to explain the total growth gap of any country in comparison to others. At least it should be examined in depth.
Stupid nonsense. Africa had slavery and massive amounts of land and resources before Columbus ever set foot here. It's amazing how many people are seemingly proud to be ignorant of the history of the world. America is great because of it's system and values.
Having been to both towns of Nogales on each side of the border many times, the contrast was still always shocking. And on the US side you could legally conceal carry, while in Mexico es Prohibido, only the cartels and the often quite corrupt "law enforcement" are allowed such things! That always made me feel very safe, below the surface Mexico can be a FAR more dangerous country than most people realize; my father knew the country quite well from numerous travels and was fluent in Spanish. BTW, slavery (and genocide) were not uncommon in the Americas long before the European invaders, I speak as someone with also a bit of Native American background. Study into the Comanche as just one example ... Homo sapiens in general have been quite a story, and indeed the constitutional republic founders of this amazing, albeit flawed USA made a major step up in the overall improvement of this species. “A republic, if you can keep it.” Benjamin Franklin's response to Elizabeth Willing Powel's question: "Well, Doctor, what have we got, a republic or a monarchy?" For the sake of the whole Planet, we damn better well keep it!!!
It is interesting to see the media in poor nations like Nigeria demanding changes in the law, property rights, and fiscal policies aligned with the insights of the three economists awarded the Nobel prize. Mr. President sir, it is about your policies https://thesun.ng/mr-president-sir-it-is-about-your-policies/
Property rights are on the decline in the US. Trump not withstanding, the US is declining. Expansion of eminent domain and squatters are prime examples. This subject deserves a thread of its own.
Not to mention civil forfeiture — where the government seizes your property even when you have not been accused of a crime.
" Civil forfeiture law allows law enforcement to seize property that they believe is connected to a crime, even if the owner isn't charged or convicted. The government can then keep or sell the property and the proceeds. " The US is not exactly the Land of the Free and the Home of the Brave.
The real problem is that civil forfeiture is being abused by many police agencies in the U.S. to seize to property of people they know are totally innocent. The usual way is by searching your automobile or person in a traffic stop and seizing all of your cash on a premise they know is totally false. It is next to impossible to get your property back -- especially as multiple police agencies play shell games with it and pretend they don't have it.
The bigger problem is that the seizure took place thousands of miles away from your home. You don't have time to go back for a trial. You need a local lawyer, whichi s expensive, who may be in cahoots with the judge and the police department. Bottom line is that you settle with the police department without a trial to return your money for pennies on the dollar.