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Why Are Some Places Rich While Others Are Poor? The Institutional Necessity Of Economic Freedom

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  • Art Carden
  • Joshua Hall

Abstract

We survey perspectives on the economic differences between countries and argue that economic freedom is the key to prosperity. We close by outlining the policy implications. Specifically, removing obstacles to the exercise of economic freedom is an important step towards prosperity.

Suggested Citation

  • Art Carden & Joshua Hall, 2010. "Why Are Some Places Rich While Others Are Poor? The Institutional Necessity Of Economic Freedom," Economic Affairs, Wiley Blackwell, vol. 30(1), pages 48-54, March.
    • Handle: RePEc:bla:ecaffa:v:30:y:2010:i:1:p:48-54
    DOI: 10.1111/j.1468-0270.2009.01973.x
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    References listed on IDEAS

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    1. Peter J. Boettke & Christopher J. Coyne & Peter T. Leeson, 2015. "Institutional stickiness and the New Development Economics," Chapters, in: Laura E. Grube & Virgil Henry Storr (ed.), Culture and Economic Action, chapter 6, pages 123-146, Edward Elgar Publishing.
    2. McCloskey, Deirdre Nansen, 2006. "The Bourgeois Virtues," University of Chicago Press Economics Books, University of Chicago Press, number 9780226556635, June.
    3. North,Douglass C. & Wallis,John Joseph & Weingast,Barry R., 2013. "Violence and Social Orders," Cambridge Books, Cambridge University Press, number 9781107646995, January.
    4. Christopher J. Coyne & Peter T. Leeson, 2004. "The Plight of Underdeveloped Countries," Cato Journal, Cato Journal, Cato Institute, vol. 24(3), pages 235-249, Fall.
    5. Art Carden, 2008. "THE FORTUNE AT THE BOTTOM OF THE PYRAMID: ERADICATING POVERTY THROUGH PROFITS ‐ By C. K. Prahalad," Economic Affairs, Wiley Blackwell, vol. 28(4), pages 89-91, December.
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    Cited by:

    1. Victor I. Espinosa & William Hongsong Wang & Jesús Huerta de Soto, 2022. "Principles of Nudging and Boosting: Steering or Empowering Decision-Making for Behavioral Development Economics," Sustainability, MDPI, vol. 14(4), pages 1-18, February.
    2. Carden Art & Lawson Robert A., 2010. "Human Rights and Economic Liberalization," Business and Politics, De Gruyter, vol. 12(2), pages 1-20, August.

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