According to an article in the Economist magazine, “In all rich countries, property rights are secure. . . . Legally recognising land ownership has boosted farmers’ income and productivity in Latin America and Asia. . . . More than two thirds of Africa’s land is still under customary tenure, with rights to land rooted in communities and typically neither written down nor legally recognized.”
a. What does it mean for a country to have secure property rights?
b. Why might we expect that all rich countries would have secure property rights?
c. What problems might African farmers have because they lack secure property rights?