World-renowned Economist Hernando de Soto, President of the Institute for Liberty and Democracy, recently spoke to myself and nearly 1,000 other FIABCI World Congress participants in St. Petersburg, Russia. His pioneering work on behalf of property rights for the poor have led to global acclaim and recognition. de Soto is well known for his revolutionary thinking and his focus on the relationship between property rights and economic development. de Soto’s speech, “Property Rights and Political Rights: The Way Forward,” focused on the concept that the lack of formal property rights is the source of poverty in many countries.
According to de Soto, the idea of a property right is notion which has evolved over time. Loss of the sense of a property right can be directly tied to Europe’s and all developed countries recession, as opposed to emerging countries. Property brings knowledge and this sense of knowledge he states has been lost. Also, the Arab Spring is essentially a property rights problem. Investments in emerging markets continue to grow as the value of western paper continues to fall. Understand property rights and the how property rights are recorded, or not recorded, can lead to greater insight and understanding as to how these recessions might be resolved.
I highly encourage you to listen to Hernando de Soto’s thought provoking presentation to learn more.
For more information: http://eng.fiabci63.com/news/view/68/
About FIABCI – The International Real Estate Federation:
FIABCI, is a business organization of real estate professionals in 65 countries, which represents approximately 100 national real estate associations and holds special “consultative” status to the Economic and Social Council of the United Nations Organization (ECOSOC). FIABCI is a non-political entity whose objective is to help members add an international dimension to their businesses, acquire knowledge, develop networks and optimize business opportunities throughout the world. For information, www.FIABCI.org.