PROPERTY RIGHTS
going to be polarising . We found that the stabilising factor was getting people ’ s opinions , and we established a system of popular consultation that actually went to the World Bank afterwards .
The idea is that , with every reform you ’ re going to make , you want , one way or another , to find out from the bottom , what people think of it . There ’ s no agenda - you simply get the complaints , and you ’ ll find that a lot of the information that ’ s necessary for a reasonable solution will come from the people themselves .” His presentation
Phumlani Majozi , Senior Fellow at African Liberty
focused on The Centrality of Property Rights for all Successful Societies . “ I strongly believe that - for societies to thrive , to grow competitive , to make a positive impact for their people , they have to be centred around property rights . And it ’ s very important that the property rights are protected by the framework and the laws that are being put together by the Government .
If I own property , I must have a right to ownership of the property so that I am able to utilise it for whatever means . It ’ s a very important topic that South Africans need to reflect on and approach with a sense of purpose and drive to make change - we need to transform our society to one which is centred on the protection of property rights , which are critical for economic development ,” he asserted .
Prof Fernando Spiritto , Professor of Public Politics at the Catholic University , Andres Bello in Caracas , Venezuela .
Speaking about the Venezuelan experience of the erosion of property rights , he said that the Venezuelan economy had shrunk by 75 % since its socialist revolution and seven million Venezuelans had left the country
“ The Venezuelan case shows that the rules in place matter . The policies are important if we want to achieve a collective goal such as economic growth . The challenge is to find a way in which everybody - especially the Government -
73 AUG / SEPT 2023 SA Real Estate Investor Magazine