Quotation of the Day…

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… is from page 52 of my GMU Econ colleague Mark Koyama’s, and his co-author Jared Rubin’s, excellent 2022 book, How the World Became Rich:

Noting which institutions are necessary [for economic growth] is one thing. Figuring out how we get there is another.

DBx: Yes.

Because institutions are downstream from the prevailing ideas of right and wrong, possible and impossible, prudent and imprudent, institutions are not easily changed by force of will – or by force of arms.

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