Indeed, even the capacity to discover natural resources depends upon institutions; countries with market-oriented institutions are far better at discovering their natural resources than countries with non-market institutions.
Jason Brennan, Ph.D., Why It’s OK to Want to Be Rich (2021, Routledge) p. 115
Jason Brennan, Ph.D., is the Robert J. and Elizabeth Flanagan Family Professor of Strategy, Economics, Ethics, and Public Policy at the McDonough School of Business, Georgetown University, USA. He is the author of 14 books, including In Defense of Openness (2018) and Why Not Capitalism? (2014).
I highly recommend buying this book: Why It’s OK to Want to Be Rich