Why Some Countries Are Rich
MAY 06, 2013 by CARL OBERG
Our friends at TFAS have released a video called "How Nations Succeed: What's the Secret to Ending Poverty?" It begins with a fascinating comparison between the United States and another, far different country. I won't ruin the surprise, but these are vastly different places.
The wonders and technological magic we see around us every day--which most of us take for granted--are the result of entrepreneurial innovation and markets. These emergent orders flow from people's drive to create something better for others--and to improve their lives in the process.
With this in mind, the question becomes not why some nations are poor, but why some nations are rich.