"In order for this recipe [of ingredients of national success] to produce competitive success, a society must have a public-spirited elite class. Nations gain tremendous competitive advantage from an active, public-minded elite that is representative of the broader society and connected to it via avenues of social mobility. But when a nation’s elite, or much of it, becomes corrupt or engages in rent-seeking behavior, that nation’s vibrancy, resilience, and competitive edge will erode. Crucially, the quality of a nation’s elite plays a vital role in determining the legitimacy of its governing institutions. Where elites are seen as corrupt and self-interested rather than devoted to the public good, societies and the institutions that govern them often atrophy or break down."
"In order for this recipe [of ingredients of national success] to produce competitive success, a society must have a public-spirited elite class. Nations gain tremendous competitive advantage from an active, public-minded elite that is representative of the broader society and connected to it via avenues of social mobility. But when a nation’s elite, or much of it, becomes corrupt or engages in rent-seeking behavior, that nation’s vibrancy, resilience, and competitive edge will erode. Crucially, the quality of a nation’s elite plays a vital role in determining the legitimacy of its governing institutions. Where elites are seen as corrupt and self-interested rather than devoted to the public good, societies and the institutions that govern them often atrophy or break down."