Creating a country that works out of one that does not - because the old order has collapsed (as in the former Soviet Union), or been destroyed by war (Iraq), or never really functioned in the first place (Afghanistan). To transform a failed country can involve establishing order through the rule of law and creating legitimate government and other effective social institutions, as well as a credible currency and a functioning market economy. Nation building is rarely easy, and often fiendishly difficult, especially where there are deep ethnic, religious or political divisions in the population or the country has no history of ever functioning effectively. Outside expertise, such as from the World Bank, and money (as in, most famously, the Marshall plan) can help, but they are no guarantee of success.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
Creator
- summer.l
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