Economic globalization involves societies around the globe becoming interdependent by trading—whether ideas, natural resources, finished products or labor.
Social Foundations
Combating material poverty involves cultivating its antithesis: wealth. But how is wealth created? History has shown that societies need certain institutions and freedoms in order to truly flourish. On the other hand, societies without these same institutions and freedoms languish.
There are many dimensions to economic freedom and much debate about its definition and measurement.
Rule of law is among the most important factors of success in any socioeconomic ecosystem. It is the immaterial foundation upon which we construct all of our formal institutions.
Political Freedom and Prosperity Although political freedom and economic freedom are far from perfectly correlated, history indicates that the two are mutually supportive. Political freedom often lays the foundation upon which economic freedom—and therefore prosperity—can be built. For example, a rule of law that respects property rights, enforces contracts, and punishes corruption is essential for … Continued
A robust civil society is foundational to the happiness of every nation. Civil society is composed of communities of individuals that come together over common interests and commitments.