Insecure property rights hinder economic growth and human flourishing worldwide.
Property rights play a crucial role in economic development. When property rights are secure and divisible, they encourage entrepreneurship and economic growth. Divisibility allows individuals to trade their property rights with others, which boosts trade and market activity. However, in many countries, barriers prevent the full divisibility of rights, leading to insecurity for property holders. Development programs that do not address these barriers can hinder economic growth and limit human prosperity.