Those of you who follow my writings know that at least since 9/11 I have been saying that poverty and slow economic growth is found in countries where political and economic power is highly concentrated. Italy, a country I am very familiar with, comes to mind. India? Middle East? Soviet Union? Russia?
There is no way to escape this truth. It is a well proven fact. I just started reading “Why Nations Fail”. The book covers with great detail the historical evidence.
Slow economy means high dependency on government help, thus reinforcing the reach of the people in power. A new form of slavery.
Fascinating book.
George Dagnino, PhD Editor,
The Peter Dag Portfolio.
Since 1977
2009 Market Timer of the Year by Timer Digest
Portfolio manager
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