Francis Fukuyama Quote
A free market, a vigorous civil society, the spontaneous wisdom of crowds are all important components of a working democracy, but none can ultimately replace the functions of a strong, hierarchical government. There has been a broad recognition among economists in recent years that institutions matter: poor countries are poor not because they lack resources, but because they lack effective political institutions. We need therefore to better understand where those institutions come from.
Francis Fukuyama
A free market, a vigorous civil society, the spontaneous wisdom of crowds are all important components of a working democracy, but none can ultimately replace the functions of a strong, hierarchical government. There has been a broad recognition among economists in recent years that institutions matter: poor countries are poor not because they lack resources, but because they lack effective political institutions. We need therefore to better understand where those institutions come from.
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