Macroeconomics – Growth/Wealth.
I’m studying and need help with a Economics question to help me learn.
What do you think creates good institutions that exist in rich countries? These institutions include: property rights, markets, a feeling of safety, long term stability, a society where you can usually trust total strangers, etc. Why don’t these institutions exists everywhere on the planet?
If you were a political leader, what might you do to help develop some of these institutions? Any opinion on which must come first? Why? Please don’t say they are all important, that’s true, but where do you START?
Here a quality post will range from 300-500 words. I’m looking for deep reflection.