Sunday, February 12, 2006

Strengthen the Laws that Protect Property Rights

The structure of the economy that brings about order is the capital structure. Amazingly it is also capital that is the transformative element, in a physical sense, as it is applied by the entrepreneurs who are alertly seeking out the needs and wants of the people.

None of these - the capital structure, capital itself, or entrepreneurial action - can function properly without the protection of law. Without protection of property rights each of these vital ingredients of the economy is stifled.

Either out of economic ignorance or from deliberate acts by persons indoctrinated in Marxist thought, many societies are continually undermining the laws that protect property rights thereby sapping the transformative power of the economy. The divine economy model clearly shows that strengthening laws that protect property rights brings about order and transformation and also justice and unity.

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