How Do Countries Grow Rich?


The Inquiry Into the Nature and Causes of the Wealth of Nations, Author: Adam Smith.

Why Nations Fail, Authors: Daron Acemoglu and James Robinson.

By Nathan Lewis – It was the subject of Adam Smith’s famous book. I suggest that the secret could be expressed in four words: Low Taxes, Stable Money.

If taxes are too high, and money is too unstable, capitalism – the incredibly complex arrangement of relationships that allow humans to cooperate together in vast networks of investment, production and trade, via the market system – becomes impaired, or collapses completely. more>


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