Here's one way. The World Bank's approach underscores something that has been on my mind for years: the fact that producing wealth often hinges less on "natural resources" than it does on what Thomas Sowell calls "cultural capital." The obvious example is Israel, whose natural resources are nearly identical to those of the surrounding Middle Eastern states (or inferior to them, if one takes into account the oil reserves in the area). Yet the Israelis have built a strong economy out of little more than education, salt water, and . . . sand.

Posted by: Attila Girl at 07:12 AM | Comments (3) | Add Comment
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