BOOK · [086]
The Wealth and Poverty of Nations: Why Some Are So Rich and Some So Poor
History / Economics
Landes surveys five centuries of economic development to argue that culture—work ethic, institutional trust, openness to innovation—matters more than resources or geography in explaining national wealth. Munger recommended it for its sweeping use of history to derive durable lessons about human incentives and institutional design.
Endorsed By
1 PERSON-
Charlie Munger
Munger valued Landes's historical sweep as evidence that culture and institutions are the decisive variables in economic outcomes—a lesson he applied to evaluating business moats.