Liberty Discussion on “Property Rights for Poverty Reduction”

Liberty Discussion on “Property Rights for Poverty Reduction”

Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through open market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Bikalpa – an Alternative on every alternative Saturday (twice a month).

On 13th October 2018, members of Liberty Discussion Group came together for regular discussion. ‘Property rights for Poverty Reduction’ was the topic for the discussion. Liberty Discussion was organized by Bikalpa an Alternative.

During the course of the discussion, participants talked about how property rights approach addresses the problems of the individuals and gave favorable outcomes. Property rights are only the rights from which poor people can be lifted out from the poverty. Poor are poor not because due to lack of assets or cash, but due to the difficulty in capitalizing whatever little assets people may possess. Some elaborated on without the security of property rights there would not be a voluntary transaction between individual and state (e.g. people will start to find loopholes on policy to escape from tax). Security of Private property rights leads to the best utilization of optimum use of available resources.

Additionally, other member expressed the need to bridge the gap between the theoretical and practical use of economics as a discipline. We think the government knows everything but due to the lack of knowledge about the market, there is always unintended consequences.  People should be allowed to unleash the true power of capital so that there can be a free flow of economy in the market. Property rights don’t only indicate the right to the security of rich people but it is equally important and subjective to the poor of the poorer people.

Participant’s also further added on Elucidating upon an idea of government that. Every individual has natural rights of Life Liberty and Property.  The life which he got from nature and the liberty which possess in the society and property which he earns for his well beings. So, the role of the government is to secure these rights. Then only there will be balance in the society.

 

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