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It's a good example of why a stable government, strong property rights, and rule of law are necessary (but not sufficient) conditions for long-term wealth devel
by prottog 3y ago
It's a good example of why a stable government, strong property rights, and rule of law are necessary (but not sufficient) conditions for long-term wealth development.
- digging 3y agoI don't really agree with this overall statement (broad as it is). Rule of law is vague, or it has a specific meaning I don't know of, but high levels of wealth building coincide with illegal activity and/or (just as bad for stability) laws written by corporations to excuse their own behavior. If we're comparing these nations to historically capitalist nations, we're comparing two runners in a race where one of them shot the other with a gun, so it's just not reasonable to say that these countries are inherently doing something wrong for prosperity.
- doxeddaily 3y ago> Rule of law is vague Not really. It means functioning courts that are fair. It means you don't pay people off to get your way. > so it's just not reasonable to say that these countries are inherently doing something wrong for prosperity. Nowhere in Latin America has there ever been the kind of stability you would find in a place like the US, Canada, Britain etc.
- digging 3y ago> Not really. It means functioning courts that are fair. It means you don't pay people off to get your way. Ok, well then we definitely don't have rule of law in the US.
- mrguyorama 3y agosee >comparing two runners in a race where one of them shot the other with a gun The old world settled in north america, and plundered in south america.