The Free to Choose Network has posted a short video clip titled, “Power of the Poor.” It features Peruvian economist Hernando de Soto speaking about the power of property rights in turning the world’s poor into it’s leading entrepreneurs.
Creating an environment where all forms of property are safe and legally enforceable contributes to increased levels of stability and encourages the free exchange of goods and ideas. As highlighted in the 2009 edition of the International Property Rights Index (IPRI), released by the Property Rights Alliance, people in countries that protect their physical and intellectual property enjoy a GDP per capita up to nine times greater than those without legal protection. Countries that protect property rights provide an essential foundation for peace, stability and prosperity, the Index shows: its calculations cover 115 countries, representing 96 per cent of the world’s GDP.