"Listening to barking dogs: property law against poverty in the non-West" by Hernando De Soto, a development economist, is an article outlining the various problems that "plague the poor" of former communist and developing countries (De Soto,2003,p179). De Soto (2003) believes that the main solution to elevate the poor out of poverty is providing these populations with formal and legalised property rights. Enabling their dead capital hidden in un-formalised and illegal property or other small businesses and enterprises to be transformed into live capital, allowing these assets to be used as security as well as collateral to aid further loans and generate additional surplus of their existing assets lifting them out of poverty. Conversely despite De Soto's hugely influential ideas to fix poverty, even becoming the president of Peru's Institute for liberty and democracy , "scholar after scholar has pointed out that his work is :methodologically weak" (Gilbert,2000,p348). Throughout this essay the article "Listening to barking dogs: property law against poverty in the non-West" and other work and ideas by Hernando De Soto will be critically analysed examining the importance and purpose of his ideas and the realistic effects De Soto's policies could have in overcoming the various challenges that developing and former communist countries face against poverty.
De Soto (2003) claims that the main instrument causing poverty in third world and former soviet union countries is the lack of a legalised property system, claiming that eighty percent of these populations do not have any legal documentations to prove the assets they own. This differs greatly from the economically successful Western world. Furthermore De Soto (2003) ignores the c...
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...ndo de Soto and the mystification of capital, Eurozine
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Many of us view poverty as mainly a third world issue, because it tends to have little effect on the majority of individuals on a recurring basis. Yet, it is a difficult situation prevalent in all types of civilization, despite the overall advances in technology, medicine and education that one country may have over the other. Poverty does not necessarily have to affect a specific individual, but as a country, it affects all levels of production; even when the production of a single country begins to falter, it could potentially have major effects on others, creating a continuous cycle.“Poverty is color blind”, it does not discriminate, and is a societal problem that needs to be dealt with today (Fullerton, par. 3). If not helped or solved,
Throughout the existence of man debates over property and inequality have always existed. Man has been trying to reach the perfect state of society for as long as they have existed. John Locke, Jean Jacques Rousseau, and Martin Luther King are three great examples of men who broke down the basics of how property and inequality are related. Each historical figure has their own distinct view on the situation. Some views are similar while others vary greatly. These philosophers and seekers of peace and equality make many great arguments as to how equality and property can impact man and society. Equality and property go hand in hand in creating an equal society. Each authors opinion has its own factors that create a mindset to support that opinion. In this paper we will discuss the writings of John Locke, Jean Jacques Rousseau, and Martin Luther King Jr. and the factors that influenced their opinions on inequality and property.
[6] Turley Mings and Matthew Marlin, [The Study of Economics: Principles, Concepts & Applications] (Dushkin McGraw-Hill, 2000) 413-414.
Nozick introduces his theory by calling a “minimal state” (Nozick 149) the only justifiable state that does not infringe on the rights of the people living in this state. Nozick as a libertarian, believes in the freedom of the individual over all else., Nozick says, “There is no one natural dimension or weighted sum or combination of a small number of natural dimensions that yields the distributions generated in accordance with the principle of entitlement”(Nozick 157). The patterns, upon which certain sections argue for the distribution of wealth, such as poverty etc., do not impress Nozick at all. Continuing the belief of individual freedom over all else, Nozick then presents his entitlement theory, which advocates that all of one’s possessions sho...
Heilbroner, Robert. "The Economic Problem." The Making of the Economic Society. Englewood Cliffs: Prentice Hall, 1993. pp. 1-15
Michaels implores his fellow citizens to abhor from demeaning associations, contending that the poor are simply “people who have too little respect [and] it is our attitude toward the poor, not their poverty, that becomes the problem to be solved” (681). In order to procure an authentic and lasting change in the economic disparity, an equally compelling effort from policy makers and citizens in their treatment towards the poor must be implemented with relentless diligence. Without dual efforts, the changes plausible are meager at best due to the active opposition; thus it is vital that the citizens present a willingness to adopt new mentalities in tandem with the adjustment of the legal framework surrounding the
In addition to low earnings, the prime reason for the inability to increase funds and thus increase security of income is that profits or potential savings are often pocketed by moneylenders who charge lofty interest rates, by formal and informal regulatory and enforcement agents/organizations who demand bribes or extort protection money, and by middlemen or other stronger business partners who exploit the poor because they lack market information or the ability to use the market information to increase their own incomes. Another key that prevents the poor from raising capital is that they are often forced to purchase public goods and services at a much higher cost that are readily available to other groups in society at market or below market prices(6).
Van Dervort, T. (2000). American Law and the Legal System: Equal Justice under the Law. (2nd
Yapa, Lakshman. "What causes Poverty? A post-modern view." Annals of the Association of American Geographers Dec. 1996.
maintain a system of inequality fortified by the law that protects their prosperity while forcing
Distributive Property or distributive justice is the economic framework of a society that asserts the rightful allocations of property among its citizens. Due to the limited amount of resources that is provided in a society, the question of proper distribution often occurs. The ideal answer is that public assets should be reasonably dispersed so that every individual receives what constitutes as a “justified share”; here is where the conflict arises. The notion of just distribution, however, is generally disagreed upon as is the case with Robert Nozick and John Rawls. These men have different takes on how property should be justly distributed. Nozick claims that any sort of patterned distribution of wealth is inequitable and that this ultimately reduces individual liberty. Rawls on the other hand, prioritizes equality over a diverse group where the distribution of assets among a community should be in the favor of the least advantaged. The immediate difference between the two is that both men have separate ideas on the legitimacy of governmental redistribution of resources; however I intend to defend Nozick’s theory by pointing out significant weaknesses in Rawls’s proposition.
The crucial importance and relevance of economics related disciplines to the modern world have led me to want to pursue the study of these social sciences at a higher level. My study of Economics has shown me the fundamental part it plays in our lives and I would like to approach it with an open mind - interested but not yet fully informed.
In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'
Old South Africa is best described by Mark Uhlig, “The seeds of such violent conflict in South Africa were sown more than 300 years ago, with the first meetings of white settlers and indigenous black tribes in an unequal relationship that was destined one day to become unsustainable” (116).
Sullivan, A., & Steven M., (2003). Economics: Principles in action. Upper Saddle River, New Jersey : Pearson Prentice Hal