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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (59653)	12/3/2002 2:01:29 PM
From: paul_philp	Read Replies (1) \| Respond to of 281500

CB, I don't understand your confusion. You seem to agree with ds Soto about the importance of property rights, contract law and enforcement. De Soto has done several years of research into the correlation between national per capita income and the effectiveness of these legal systems. He noticed that there is a strong correlation between countries that have either no such system or a corrupted system and national poverty. He makes the argument that the poor of the world have the assets they need to finance themselves but the legal system does not support monetizing those assets. You would have to read his book to understand the condition of the various countries he studied legal system. It is not lack of law that is the typical problem. It is over beaurocracy or corruption that is the problem. In some countries it can take decades to get the paperwork done to demonstrate ownership. Paul