 There's a great claim by John Stuart Mill in his book, The Principles of Political Economy, where he notices in passing the great rapidity with which countries bounce back from war, famine, hurricanes, and fire, and how they come back within a generation. But the question was, how is it that they come back? Mill just sort of says it's a great mystery to us. And so instead, we're trying to explore that here and we started our work at Mercadis by studying the failed and weak states and the collapse of communism in the less developed countries. So we sort of use this three-legged bar stool idea. So imagine you have a three-legged bar stool and each of the legs of the bar stool represents the economic and financial institutions in your society, the social and cultural institutions in your society, and the legal and political institutions in your society. Now what you're gonna do is put stress on that bar stool. And if you put stress on that bar stool, but none of, but if one of the legs is weak, what's gonna happen? The bar stool will topple over. So that bar stool can only hold if those legs are strong. And so the question was, what happens when we have to reform because we've wiped away those legs from the bar stool? And so Hurricane Katrina gave us a natural experiment in this and to look at the way in which political and legal institutions interact with economic and financial institutions and social and cultural institutions. And so what we did was we put three different teams into the field. So one team studying the legal and political, other team studying the commercial and entrepreneurial, and another one studying the social and cultural capital. What we found, by the way, was that the social and cultural building civil society co-evolves and in fact, strengthens commercial relationships as well as undergirding the political and legal environment. And that too often in times in the current system, the political and legal environment is a block to the interactions between the social and cultural and the commercial relations in a society. And so that's been a major part of our research here. And it applies even to things like other crises. Cause again, you can have crises that come about because of things like financial crisis. And how is it that you can rebuild cities after that? It could come about through technological innovation and cities actually that used to be the hub of economic activity are now no longer the hub of economic activity. How does Youngstown, Ohio after the steel industry try to come back? Can we talk about something and learn something from the difference between the way Detroit has had to react after the decline in the auto industry and Pittsburgh after the decline in the steel industry had these cities rebuild themselves in what is the crisis? And how is it that social and cultural, political and legal and economic and financial institutions either work together to help transition a society or fight against one another and keep us from allowing that kind of growth and development?