In this discussion with Doug Casey and Rakesh Wadhwa, moderated by Joel Stern, I discuss why some countries stay poor and why many societies fail to escape poverty despite technology, education, aid, and imported institutions.

The discussion examines the deeper cultural, moral, and institutional foundations of prosperity. Poverty is not merely a lack of money or infrastructure; it is often rooted in irrationality, tribalism, low trust, weak institutions, and the absence of habits that allow capital, competence, and civilization to accumulate.

Watch the full discussion below:

Key Takeaways:

• Why some countries remain poor despite access to modern technology and education
• How culture, trust, and institutions shape long-term prosperity
• Why aid and imported systems often fail to transform irrational societies
• How tribalism and low social trust prevent capital accumulation
• Why poverty must be understood as a civilizational problem, not merely an economic one