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March 04, 2007
The Missing Proletariat
As some of you may know I'm a big fan of Economist Hernando DeSoto. I covered some of his thinking in Property. Which is all about the historical origins of property. Of course the origin of the desire for property is biological. What property rights do is minimize the fighting about property. Making the owner more secure. Economic development expert Peter Schaefer says we have a property problem in Iraq. Vietnam sparked Schaefer's interest in economic development. I spoke to him yesterday (March 2) on the phone. Pete told me: "I couldn't get my mind around the fact that the Vietnamese people were so smart and industrious and yet they were just so damn poor. The (destructive effects of the) war didn't answer that for me. Why would someone choose Mao over Jefferson?"OK. That was the wind up. How about the pitch? "The Third World is not populated by proletariats, it's populated by entrepreneurs- successful small business people," Schafer said. (And that is what I've seen in the time I've spent in developing nations.) He added: "If you are someone who is surviving and raising a family by taking a bunch of bananas from out the city and bringing it in (to sell) you are an entrepreneur. You understand business --by low sell high And if you come to them and say you want to extend credit to them they understand that."The article gives lots more reasons for doing property reform. So go read it all. H/T Instapundit Cross Posted at Power and Control and at The Astute Bloggers posted by Simon on 03.04.07 at 03:33 AM |
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Ulises
San Juan, PR