Econ-ity on Property Rights and Economic Growth

Samriddhi, The Prosperity Foundation organized an Eco-nity session on the topic Property Rights and Economic Growth on January 7, 2015 at Everest Hotel, New Baneshwor. The major speakers of the program were Mr. Barun Mitra, Founder and Director of Liberty Institute,  Associate  Professor of Economics and Political Science, Ken Schoolland from Hawaii Pacific University and  Vice President for International Programs at Atlas Network Tom G. Palmer. The moderator for the panel discussion was Dr. Professor Mr. Bishwambar Pyakurel.

Mr. Barun Mitra discussed on prospects and challenges of Property Rights in Nepal and India and he presented some of the successful examples of the property rights movements in India and also highlighted the prospects that those rights are the overall process towards the achievement of the rights especially towards the poor. The underprivileged people can be  granted  rights by providing them their fundamental rights for land.

Professor Ken Schoolland put his view forward that property right is an abused concept worldwide. It is generally perceived that if you really own anything, it is owned by government which is not acceptable, if we really want the welfare of property rights. He discussed some of the very critical cases of the violation of Property Rights. He further elaborated on how the Property Rights worked in his research and the GPS project on granting people the property rights.

Similarly, Tom G Palmer highlighted on the positive role of government to create property rights and law. There is tremendous opportunity for the accomplishment of the rights. The fundamental rights are defendable and the system will support the people’s rights. Moreover, the rights are commendable and transferable at relatively low cost. There must be sense of accountability, dignity for the greatest Property Rights and contribute for the wealth, prosperity and dignity.