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Monday, May 6, 2013

Why Some Countries Are Rich

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.

  • Carl Oberg was the Director of Finance for the Foundation for Economic Education.