
The Ethos of Economics with John Cogan and Kevin Warsh | Peter Robinson | Hoover Institution
Uncommon Knowledge
The Importance of Institutional Arrangements for Economic Growth
Four key institutional arrangements are essential for human flourishing and economic growth. They're private property, the rule of law, free and competitive markets, and limited government. Countries that have those four institutional arrangements are countries that have succeeded. Since the development of those institutions, we've seen a world progress like nothing before.
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