Publication Date: May 1990
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Edward L. Hudgins
Research Area: Economics
Keywords: Trade and foreign aid
The statist policies in communist countries in Eastern Europe and socialist countries in Latin America and Africa have produced seemingly intractable poverty that is resulting in political revolutions and the establishment of democracy. But this is not enough.The establishment of secure private property rights, protected by law from abuse by other individuals or by governments, is the most fundamental step a country can take to ensure liberty, democracy and prosperity.