Home » Opinion » Editorials
Wealth and culture: Romney’s obviously true comment
Speaking in Israel about the differences between the Israeli economy and the economy of the Palestinian territories, Mitt Romney noted the huge per-capita income gap in Israel’s favor and then said, “Culture makes all the difference.” The media have branded the remark “controversial.” It is nothing of the sort.
Economist and columnist Thomas Sowell, who has done a great deal of work demonstrating the importance of culture in shaping economic outcomes, writes about this all the time. He has spent decades showing how cultural norms play a huge role in determining economic outcomes.
Explaining his comments in a later interview, Romney cited the work of David Landes, Harvard emeritus professor of history and economics, whose brilliant 1999 book “The Wealth and Poverty of Nations” demonstrated with great clarity how culture, not race or geography, accounted for so much of the huge variations in economic development among nations.
No one can deny that Israel and the Palestinian territories have enormous cultural gaps. Nor is it deniable that culture plays a huge role in determining economic outcomes. Noted economists have made that point for decades. The only thing controversial about Romney’s point is how few reporters have ever encountered it before.
READER COMMENTS: 0
- Conway's Jeff Locke frustrates Cardinals - 0
- Conway's Locke beaten by Dodgers in first Pirates start - 0
- Kevin Gray's On Baseball: Home cooking suiting Nolan - 0
- NH's Jeff Locke remains in big leagues as Pittsburgh starter - 0
READER COMMENTS: 0
- Driver rescued after Franklin crash, 50-foot plunge - 0
- Storms knock out power to about 3,600 PSNH customers - 0
- Nashua couple's deaths called suspicious - 0
- American Medical Response back in good graces of key Manchester officials - 0
- Lebanon’s Colette Schmidt captures N.E. girls’ golf tourney crown - 0
- Sixteen make cut at State Am qualifying - 0
- Granite Stater Matt Bonner in position for another NBA title - 0
- Clippers, Celtics resume talks on Doc, Garnett deal - 0
- Hampton man indicted for distributing child porn - 0
Epping man’s hope for working van realized
Mother of drowned baby gets prison time
Nashua couple's deaths called suspicious
Traffic stops in spotlight
One era ends, another begins at Union Leader
A Medicaid reduction? That is not likely
Study recommends Millyard parking garage