The key point is that not all sets of institutions, when you add up the sum of the parts, are equal. There are good and bad combinations. In some sets of institutions, people can flourish freely as individuals, as families, as communities. That is because the institutions effectively incentivize us to do good things – like, for example, inventing new and more efficient ways of working, or co-operating with our neighbours rather than trying to murder them. Conversely,
( Niall Ferguson )
[ The Great Degeneration: How ]
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