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Quote by William J. Bernstein

“Western notions of individual autonomy and rule of law simply do not apply in the desert. An attack on one tribesman is an attack on all, and in a landscape where a murderer can quickly and quietly slip away, it matters little whether the accused is guilty or innocent. His entire clan is held accountable for thar—retribution. The resulting skein of honor and revenge, so familiar in the modern Middle East, is eternal, seemingly without beginning and without end. When the first recourse of victims is to their cousins, and not to the police or to an independent judicial system, poverty and political instability are the usual outcomes.”

Quote by William J. Bernstein

Book:A Splendid Exchange: How Trade Shaped the World
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A Splendid Exchange: How Trade Shaped the World

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William J. Bernstein
William J. Bernstein

William J. Bernstein, born in 1954, is a renowned investment expert and author. His career has been dedicated to the field of investments, particularly in the areas of mutual funds and index funds. As an investment expert, Bernstein has made significant contributions to the understanding of portfolio management and asset allocation. His book, 'The Four Pillars of Investing,' is a cornerstone in the field, providing in-depth insights into the principles and strategies of portfolio construction. Bernstein's work has had a profound impact on both individual and institutional investors, and he is widely regarded as an authority in the investment community. more

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