Stability as the Foundation of Development
Almost every important decision in life is a bet on the future. Someone who takes out a loan to buy a house, enrolls in a degree that will take years, starts a company, or chooses the country in which to raise children assumes that tomorrow's rules, prices, and institutions will resemble today's closely enough for the bet to be worth making. What makes that bet reasonable is trust, and trust feeds on a single ingredient: stability. It is not a luxury of rich countries or a technical matter for economists, but the condition that allows people and societies to think and act for the long term. Behind that search lies something deeply human. From the granaries of ancient societies to insurance, savings, and modern institutions, humanity has always tried to cushion life's blows so that days, weeks, and years pass calmly and families do not pay the price of upheaval. People do not want to live without change; they want to evolve in a clear and predictable way. A society accep...