The Importance Of Institutions

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Institutions are very, very important for many reasons. Through institutions, self-interest can be aligned with the social interest. Institutions shape a nation and its economics, subsequently shaping its people's standard of living and way of life. Institutions affect every single one of us. The institutions that matter most are Honest Government, Political Stability, and a Dependable Legal System.

Honest Government is the most important of all institutions. Ultimately, everything leads back to this institution, it is the engine that keeps everything else running. An honest government matters most because if your government is honest, there will be political stability, property rights, a free market, and a dependable legal system. I grew up in a military family and have lived all over the world, in Syria, Ukraine, Myanmar, Kuwait, and Russia. Many of these places I lived do not have honest governments, especially Russia and Myanmar. We all know that Putin is a dishonest man, the crisis in Ukraine has made that very clear as he lied multiple times about his intentions and repeate...

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