Adam Smith is Still Right
According to a decade-long study by the McKinsey Global Institute, countries with more competitive markets, less regulation, and fewer social objectives, have much stronger economies.
Why is Good Governance so Hard?
Inclusion leads to success. Extraction leads to failure. Human nature is flawed. Without strong guardrails and protections for freedom, the natural human greed and hubris of leaders frequently lead to corruption, then extraction, then inevitable failure of a nation.