Oh, right, you were saying that before - we all got rich by killing Indians and stealing their land and enslaving black people and living off the fruit of their labor. Except that we haven't done either of those for going on 150 years (and even before slavery was outlawed throughout the US, most people lived in states where it was illegal, and the vast majority of Americans owned no slaves at all, even people living in slave states). So what were the "questionable institutions" that have made America rich since then?
You don't even try to read, do you? We killed the indians and pushed them off their land, and spent centuries clear cutting forests (which we've since done an excellent job of managing and bringing back up to previous acreage), mining out coal, and minerals, trading slaves and using slave labor, (which helped build such cities as Boston and Charleston) supressed unions, (You do remember that, right?), polluted wantonly as a matter of course and then disposed of waste through shady means after it has become illegal. We're mining our aquifers (that means withdrawing water at a rate faster than recharge), letting unlined landfills drp lechate into the very same aquifers. . .
Need I go on? There's no shortage of problems with the institutions in our society. We're a whole lot better then we used to be, but wanton disregard for the lives of future generation and the lives of people who don't directly benefit from our abundant wealth seems to be par for the course.
BTW, you never answered my earlier question regarding whether or not you thought the total amount of wealth in the US is the same today as it was in 149,200 BC.
I can't answer that question until you define "wealth."
Is wealth Gross National Product? GNP is a perverse measurement of "wealth" because it measures money spent on goods and services, so a costly oil spill that costs billions to clean up raises GNP. A flu epeidemic that prompts billions of dollars in emergency spending raised GNP. Saving money frugally and paying down our national debt would lower GNP.
Is wealth property? Do nicer clothes and flashier cars mean we're better off? Is health a measure of wealth? Is knowledge and education? I'd happly answer your question if you could explain what you mean. I'm pleased to have the benefit of intitutions which provide me a good education, good health, a home, and food on my table, all of which are better than we had hundreds of years ago. But, we have problems now that we didn't have then. We're all beneficiaries of the crimes of the past. History is a litany of awful behavior. I'm glad for the benefits we have, but the problems we've caused really need to be addresed.