The strength of a nation's institutions is not just in their formal rules, but in the informal norms that govern behavior and the degree to which they are internalized by the population.
The United States is experiencing a crisis of political decay, with institutions that are increasingly dysfunctional and unable to address the country's challenges.
The most successful modern states are those that have been able to harness the power of the market while maintaining a strong state capable of enforcing rules and providing public goods.
