It is increasingly recognized that well-defined property rights are crucial for realizing the benefits of market exchange and that such rights are not exogenously given but evolve over time in response to economic and political forces. The reduction of expropriation risk and the facilitation of market transactions are the two main categories through which property rights systems affect economic outcomes. However, the mechanisms by which these two categories affect outcomes differ in important ways.
The impact of the mobile phone in Afghanistan
With the seemingly endless bad news coming out of Afghanistan, I would like to break the cycle and write about a success story that is the start of something good. This post is about the humble mobile telephone.