Excellent articel tying Sowell's culture framework to the informal sector dynamics. The welfare comparison between locals and immigrants is particuarly sharp because it shows how incentive structures shape behavior way more than any inherent traits. I saw similar patterns in other developing economies where the presense or absence of social safety nets completley changes entrepreneurial risk-taking. The bit about pre-1994 success without romanticizing that era is a smart balance most people cant pull off.
Excellent articel tying Sowell's culture framework to the informal sector dynamics. The welfare comparison between locals and immigrants is particuarly sharp because it shows how incentive structures shape behavior way more than any inherent traits. I saw similar patterns in other developing economies where the presense or absence of social safety nets completley changes entrepreneurial risk-taking. The bit about pre-1994 success without romanticizing that era is a smart balance most people cant pull off.
Thank you for taking the time to engage with the piece. I do apologise for the delayed response!