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Combustible Combinations and the Secrets of Development Economics

Summary:
What is the similarity between a game of scrabble and economic development?  How many words can you make with 3 letters?  How about with 26 letters?  What is the relationship between consonants and vowels, and are they analogous to private and public sectors in economic arrangements? If so, what causes some countries to get stuck in the combinatorial process of wealth creation and human betterment? [embedded content]

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What is the similarity between a game of scrabble and economic development?  How many words can you make with 3 letters?  How about with 26 letters?  What is the relationship between consonants and vowels, and are they analogous to private and public sectors in economic arrangements? If so, what causes some countries to get stuck in the combinatorial process of wealth creation and human betterment?

Peter Boettke
Peter Joseph Boettke (January 3, 1960) is an American economist of the Austrian School. He is currently a University Professor of Economics and Philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, Vice President for Research, and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.

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