In my book which won IGI Global 2010 Excellence in Technology Research ‘Book of the Year’ Award, I tracked the development of many economies over centuries, and how technology and innovation systems have transformed economies. Yes, besides being “smart”, nations develop when they have platforms, and the most important platform is Rule of Law (or simply property rights) in different forms which make it possible to protect properties, physical and intellectual.
So any person who thinks a nation can advance by sheer efforts and energies of the people without Rule of Law is wasting time. Rule of Law attracts capital, and property rights enable a transition from Invention to Innovation phases of development.
Without the Rule of Law, nations operate largely with Money. With Rule of Law, nations advance into Capital formation which creates and expands opportunities across territories. Poor and inventive nations operate with Money, rich and innovative nations work with Capital.
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Good People, no matter how hard Nigerians work, we have a ceiling we can attain on development, until the Rule of Law becomes part of our national system.
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