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Institutions that protect property rights are necessary, but they aren't possible without people who want to maintain them.
Agreed.
And as noted here #938550 I think as a corollary of their protecting property rights, strong institutions also help safeguard the peoples' cultural capital.
Ultimately, a country's strength cannot be so reduced to a single aspect - it was an interesting debate being had among some colleagues of mine and I thought I'd let the stackers the chance to weigh in!