The poorest countries
on the planet have no individual property rights. The lowest 20% have an
average per capita income of $2,718. The top 20% of countries have a per capita
income of $56,399. The difference is property rights.
Having good individual
property rights requires the government to maintain an effective set of laws
that guarantee that individual citizens of the country are free to own private
property. It also requires that these countries have effective records and
enforcement mechanisms to ensure that individual property rights are ensured.
Most
African and South American countires
have inadequate individual property rights laws.
Norb Leahy, Dunwoody
GA Tea Party Leader
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