PROSPERITY IS NOT ACHIEVED merely by possessing hydroelectric dams, roads, telephone wires, factories, fertile farmlands, or even great quantities of money. Nor can prosperity be transplanted from one nation to another simply by transferring the key components of an economic infrastructure. In all but the most exceptional cases, national prosperity is not about physical objects or natural resources. Rather, it is about institutions—the framework within which human beings think, interact, and carry on business.
— William J. Bernstein, in The Birth of Plenty: How the Prosperity of the Modern World Was Created.
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