Posted on 11/02/2005 5:32:19 PM PST by SandRat
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Do they have private property law in Afghanistan?
Don't know as the Afghans have a new Constitution
Our own property registration system is only a century old. Up until then it was mostly all local, and that meant that the vast majority had no capital they could use for collateral. Plenty of paper money, but just look at the overlapping land claims and the huge number of squatters. Even George Washington complained about that. In 1783. Now just about all private real estate is recorded, and can be used as capital. That is THE difference wetween the West and the other 80% of the world. The West has capital, no one will deny, but the capital is directly the result of systemwide ownership records. Collateral. This basic fact is generally overlooked while infrastructure is built in places like Afghanistan. The private wealth is huge, but it is dead wealth and can't be used to go to the bank for a loan. While we are nation-building, are we setting up something like a recorders office and streamlining the process of registering private property? That would be the key once and for all.
aawwhh!
BTT
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