Unfortunately, economics is built on socio-political institutions. - TopicsExpress

Unfortunately, economics is built on socio-political institutions. Positive win-win repeat interactions without firm (and flexible) institutional foundations are possible until the next crisis. The possibility of the next crisis, and now the certainty of a future crisis is high from experience, discounts net present value of the transactions, acting as a great suppressor of investment incentives. Win-win needs an assist from an institutional innovation - Peace Treaty.

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