Albert Einstein is perhaps the scientist best known throughout the world for his development of the Theory of Relativity which revolutionized science well into the 20th century. He went on to say: “The world we create is our thought process. This cannot be changed without changing our way of thinking.”

Several years ago I read the book “Why Countries Fail”, a wonderful work by economists Daron Acemoglu (Turkey) and James A. Robinson (UK). It takes you on an adventure that inserts modern world history, but in principle, because the countries colonized by the British Empire were very different in economic matters compared to the countries colonized by the Spanish Empire. The first countries, almost all of them, are today first world countries and the second countries, without exception, are condemned to backwardness and poverty.

Although it does not make subjective references, the course of history gives us a clear perception that allows us to draw our own conclusions about the reasons that produce great differences between nations.

However, these conditions historically emerged as a result of how the special interests of the colonizing parties were directed. On the one hand, the Spanish Empire in America was responsible for extracting the natural resources found in the region, and on the other hand, the British Empire did not suffer the same fate because the lands discovered in North America did not have them. mineral abundance similar to that in Central and South America.

Therefore, the economic institutions and policies of the Spanish colonies were extractive (based on extraction for the empire); and England, inclusive to exploit new territories for the benefit of the commonwealth. Bring about a fundamental reorganization of economic institutions in favor of innovators and entrepreneurs, based on the emergence of more secure and efficient property rights.

When these territories became disobedient to the empire through acts of independence, socio-political leaders adopted the same policies (extractive or inclusive) that originated with their colonizers. Important political changes did occur, but economic institutions remained aloof from the situation.

This allowed the United States to become a superpower and Mexico to still continue to develop. Because only countries with inclusive economic institutions and policies are able to quickly adopt new innovations and technologies that develop a political class mentality based on prosperity and well-being, while countries with extractive economic policies and institutions focus on a political class mentality that does not separate between the public. and private, namely the public may touch the private and vice versa.

In short, a country’s economic success varies due to differences in its institutions, the regulations that influence how the economy works, and the incentives that motivate individuals.

This is where the mentality of the political class and individuals make the decisions that make the difference. For example, the United States extracts its minerals and natural resources and stores them as great treasures, while in underdeveloped countries they sell them to the highest bidder.

It is important to understand that currently our country does not have efficient political institutions, or regulations that enable the general welfare to obtain a fair supply from the exploitation of natural resources and at the same time maintain environmental sustainability.

This does not mean that we have to oppose the use of our natural wealth, but we must first prepare conditions that allow us to build wealth in a fair, sustainable and sustainable way through these resources and this is accompanied by economic tools. , the environment and policies that empower and encourage individuals to achieve higher collective interests that do not provide space for these collective interests to merge with the interests of individuals who have political power or the interests of national or foreign companies, thereby harming the national interest.

Businessman