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Property Rights

As I read The Econ­o­mist’s arti­cles on devel­op­ing nations, whether it be in Asia, Africa, or Europe, a com­mon thread jumps out at me:

Prop­er­ty rights are the key to eco­nom­ic devel­op­ment. Peo­ple want to own their prop­er­ty, and not have to wor­ry about how to keep it or who’s going to take it.

Prop­er­ty rights, in the form of land own­er­ship, bank­ing, and lack of cor­rup­tion, all lead to domes­tic and for­eign invest­ment in the coun­try: peo­ple know that their prop­er­ty is secure and not sub­ject to ran­dom and unjust repos­ses­sion by offi­cials or armed forces.