tag:blogger.com,1999:blog-1859345528889981553.post3474583536126517615..comments2023-10-19T01:44:50.017+01:00Comments on Liberal Polemic: Halfway to paradiseLiberal Polemichttp://www.blogger.com/profile/05002372579024659424noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1859345528889981553.post-91606660638725627902007-03-14T09:02:00.000+00:002007-03-14T09:02:00.000+00:00Tom,I'm glad you enjoyed the book! Feel free to ch...Tom,<BR/><BR/>I'm glad you enjoyed the book! Feel free to chuck it my way next time we meet.<BR/><BR/>The property ownership issues you raise don't only restrict access to capital but also contribute heavily to poor performance in the banking sector in Africa. Banks on this continent are bad at allocating capital when property is not used as security (unsurprisingly). This makes all loans more expensive as banks pass on the cost of non recovery of debts to their customers.<BR/><BR/>Microfinance, while seemingly very effective at giving and recovering small loans to many people, can never be an effective alternative to the large banks. Property rights would seem to be the be the key to making loans more widely available and cheaper to all.Anonymousnoreply@blogger.com