Re:Ghana will no longer sell cocoa to Switzerland
by mrkramer on Friday March 19, 2021 @01:38PM
(#26516131)
Developing countries lack proper legal system where laws are based on property rights and market economy. That's why mentality of African people for example can not change and can not embrace capitalism.
I would suggest you to read Hernando De Soto - The Mystery Of Capital: Why Capitalism Triumphs In The West And Fails Everywhere Else
The book argues "it actually has everything to do with the legal structure of property and property rights. Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth." [1]
Once the China for instance embraced capitalism and changed their legal system to allow private property ownership and allow market economy they thrived. Plus allowing American companies to come and exploit cheap work force they acquired "know-how" by now widely known and familiar stealing of intellectual property and copying literally everything they put their hands on.
I would suggest you to read Hernando De Soto - The Mystery Of Capital: Why Capitalism Triumphs In The West And Fails Everywhere Else
The book argues "it actually has everything to do with the legal structure of property and property rights. Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth." [1]
Book is in the public domain: [1] https://archive.org/details/Hernando_De_Soto_The_Mystery_Of_...
Once the China for instance embraced capitalism and changed their legal system to allow private property ownership and allow market economy they thrived. Plus allowing American companies to come and exploit cheap work force they acquired "know-how" by now widely known and familiar stealing of intellectual property and copying literally everything they put their hands on.