The real question is, what gets people out of poverty? And that's a whole longer story. But institutions, you got to have secure property rights, ideally free markets. Institutions are foundational to [getting people out of poverty]. that. You've got to have culture, you got to have a circle of trust that people you trust, you believe in the long term, you believe in yourself, you have some values that, that allow you to interact with people. (09:08–09:11)
CLAIM
Asserts that institutions are essential for alleviating poverty.
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