Did you read "How Nations Fail"?
Democracy can be ugly at time. Meanwhile the Nobel Prize for Economics Ok its really the "Nobel Memorial Prize in Economic Sciences" as its not funded by explosives! A Bank funds it
Daron Acemoglu, Simon Johnson and James A Robinson awarded the Nobel memorial prize in economics
The paper and book they have done is an amazing amount of research. ITs not huge gold, iron ore, fish, crops, water.......... Its "analysing the importance of stable, inclusive institutions when it comes to a nation's economic performance.
Their work examines both how political institutions are formed and why more inclusive institutions, less extraction of resources by elites and a commitment to the rule of law create long-term economic benefits."
"Donald Trump vowed on his campaign that he would tax all goods imported into the US if he won back the White House. Following his victory, businesses and economists around the world are scrambling to work out how serious he is.
Trump sees tariffs as a way of growing the US economy, protecting jobs and raising tax revenue.
In the past, he has targeted tariffs at individual countries such as China or certain industries, for example steel.
But Trump's election campaign pledge to impose taxes of 10% to 20% on all foreign goods could affect prices all over the world.
Last month, he appeared to single out Europe.
"The European Union sounds so nice, so lovely, right? All the nice European little countries that get together... They don’t take our cars. They don't take our farm products," he said.
"They sell millions and millions of cars in the United States. No, no, no, they are going to have to pay a big price."
BMW, Mercedes and Volkswagen shares all fell between 5% and 7%
"
The economics of good governance is clear. "Democracy" is not perfect - everything else sucks eggs
