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No one knows for sure. A consistent rule of law, property rights and low marginal tax rates that provide individuals incentives to reap and keep the rewards of their labor and capital investments all help, but those are all also desirable for other reasons than assuring a prosperous economy, reasons that may even be more important than assuring a prosperous economy. Other factors may include openness to trade and immigration, educational institutions, geography (a port); infrastructure (an airport); and religion or culture.
Editor of FutureOfCapitalism.com and author of "Samuel Adams: A Life", Ira Stoll
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