We must invest our time and efforts in self-development

As Acemoglu and Robinson wrote in their book „Why Nations Fail: The Origins of Power, Prosperity, and Poverty”, the key to understanding the success or failure of nations lies in their political and economic institutions, both formal and informal – such as social norms and traditions in the family. There is a need to develop the so-called inclusive institutions, i.e. supporting innovation and economic development.

Let’s list just a few of their features. Inclusive institutions ensure equal opportunities, encourage broad participation, protect property rights and enable the free exchange of ideas and innovations. They put education and human capital development first. Inclusive institutions build trust that fosters business cooperation and innovation. In environments where individuals and organizations trust each other, there is a greater willingness to share knowledge, collaborate on projects, and take risks.

Education throughout society – and throughout life – is part of this process. Don’t wait for others to decide. Every person can actively act in this area through their own personal development.