Economic prosperity is neither impossible nor inevitable. There are scores of examples on either side of the prosperity divide. From these we can learn quite a bit about what it takes to be economically successful.
Prosperity eludes some countries while others flourish — but not because of some deep, dark, mysterious reasons. Economists know what works, what doesn’t work and why. Here I present some basic bits related to the subject from a personal perspective.
Why are some countries poor while others rich? That’s a more complex question than the question why a particular person is rich and another poor. The difficulty in the latter case arises because an individual is at the mercy of factors out of its control, while in the case of a collective, the collective determines its destiny through the choices it collectively makes.
There’s the problem of endogeneity when one considers the collective: society determines the environment, which in turn determines how the society functions. In this series, I will explore one simple idea, and it is this. Societies that steal are less able to produce the good society in contrast with societies that are in some sense honest.
The good society is one which is at the very least, not materially impoverished. I believe that theft is a factor in the poverty of societies. If indeed it is so that stealing is implicated in the poverty of nations, then it is possible for us to figure a way out of the problem. That we will see in the end.
So if you have been wondering why I have not posted anything on this blog for so long, wonder no more. I’ve been busy thinking. Unlike most people, I cannot think and write at the same time. Now that the thinking is over, time to start writing. Expect deep thoughts expressed elegantly and at length. Like King Lear, “I shall do such things,–what they are, yet I know not; but they shall be the terror of the Earth.”