Comments by "BVargas78" (@BVargas78) on "VisualEconomik EN" channel.

It's also because Pakistan is more authoritarian which makes official corruption easier. And that will also hurt business.
9
@eccehomo1904 Cousin marriage will do that unfortunately.
3
@iansneddon2956 It also helped that there was a lot of money in circulation. Did you know that new world gold was spent on armies, fighting for catholic forces in part of the counter reformation wars. It was often pocketed by mercenaries and also reconstruction projects to repair the devastation of war. But it had the benefit of creating a pool of consumers in the retired mercenaries and skilled tradesmen. While countries such as Spain which were more peaceful prior to Napoleons invasion (a much later event) saw little of the new world gold end up in circulation there. Hence outside of a few aristocrats most spanish were poor. Even the merchants because spaniards had less coin to spend compared to germans who were doing the repairing and the fighting during the european wars that were funded with spanish gold. This detail tends to be overlooked by most historians but i'm certain it is a factor. Not saying that there isn't any truth to the protestant work ethic theory either, i think it's down to both these things.
1