Tuesday, March 6, 2012
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One thing the author doesn't say in his article is that good governance is important too. Less corruption, rule of law, and support of sound economic principles would greatly help these nations. Look no further than Botswana. The push for good governance is one of the better decisions that the George W. Bush administration made.
ReplyDeleteAn excellent point and these formal and informal institutions tend to evolve and emerge over long periods of time, begging the question about the transition from lousy government and predatory behaviors toward wealth enhancing institutions.
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