mercoledì 22 gennaio 2020

What creates wealth in a nation

What creates wealth in a nation :

Without attempting to rank them in order of importance, but just listing them alphabetically, they include:

1) control of inflation,
2) educational opportunities,
3) effectiveness of government,
4) enforcement of contracts,
5) freedom from trade barriers,
6) incentives and opportunities for investment of capital,
7) lack of corruption,
8) low risk of assassination,
9) open currency exchange,
10)protection of private property rights,
11)rule of law,
12)unimpeded flow of capital.

History is something that very few people have been doing while everyone else was ploughing fields and carrying water buckets.