51271415_ML-230x181

Transcending Government — A Future of Competitive Governance Driven by “Governance Entrepreneurs”

In a little-known 2006 World Bank report Where Is the Wealth of Nations? a team of economists provide a snapshot of wealth in 120 countries, and they find that governance is key. A full 46 percent of total wealth in high-income countries derives from the rule of law, the most important factor. This is an extraordinary finding with sweeping implications.
The economists divide each country’s capital stock into three categories: (1) natural capital (patureland, subsoil assets, timber, non-timber forest resources, protected areas, and cropland); (2) produced capital (buildings, machinery, equipment, and infrastructure); and (3) intangible capital (raw labor, human capital, social capital,

Read more at The Independent Institute