Without property rights you don’t get people to invest to build factories. For a long time China was ahead of the West in many regards but without stable property rights you didn’t have capital investment and the economic growth that comes with investing capital to make humans more productive.
Without property rights you don’t get people to invest to build factories. For a long time China was ahead of the West in many regards but without stable property rights you didn’t have capital investment and the economic growth that comes with investing capital to make humans more productive.