Third World Countries: Legal System Implementation

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Table of Contents

Introduction
Main Body
Conclusion

Introduction

The solution for third world countries lie in their own hands. Though it is not easy to implement they have the ability to. Capitalization in these countries is compared to re-arranging an eagle’s nest without disturbing the eagle. This clearly shows that it is a delicate issue and needs caution and care from the start. Otherwise what was meant for good may turn out worse if all areas are not taken care of.

They should therefore look at all aspects of how to implement successful implementation without ignoring any of them. This includes the political aspect, legal system of property and the social aspect. Developing and ex-communist countries have failed in capitalism and hence development. The problem is that in these countries capitalism is only for the elites. Initially, the United States and the Great Britain were the only countries that concentrated on capitalism. Latin America enhanced capitalism by controlling inflation, free trade and allowing private ownership of assets. However, they had failed four times before this success.

Main Body

Those who advocate for capitalism are seen as liars outside the West. Their fight for capitalism has failed due to the rulings that find them guilty of trying to manipulate the written law of the country. Most of these countries do not develop because there is so much of the dead capital. This is mainly caused by law that does not allow formal property system. The law is therefore very discriminative.

Many people cannot trade in expanded markets because of the property ownership system. The failure to document their assets and business in the expanded market, have limited them to enjoy many benefits that would be at their disposal if only they could take some actions. Registration and well managed property regulations should help them to climb up the ladder.

The government should promote a legal system that would enable unity and expertise to increase productivity. It is only good systems, and not faulty ones that can enhance development at a national level other than concentrating on a few individuals. This is compared to water. If each person has some little water, he might not be able to do much with it and it will bring only a little profit. If the water is put together, it is able to have a greater impact than when it is isolated. This signifies the power of unity.

Some people are the enemies to their own development by being enemies of capitalism. They make efforts to put down those who try to promote capitalism. They argue that the supporters are stepping on laws and breaking them.

The representation of an idea is very important. Some people are quick to reject ideas but with persistence they are able to embrace it. Cultural factors should also be put into consideration. Regardless of the culture that one comes from, it is globally common that the effects of capitalism are similar all over the world. The legal property empowers individuals in any culture.

Bill Gates is one of the greatest entrepreneurs. His great success has been achievable because of several reasons that promoted success and development. His success was fueled by the property rights system and a well integrated social contract. The investment and long term goals were not an easy task. The insurance system gave him security. The well managed record of property enabled him to accumulate wealth gradually and have a huge amount of capital.

The government should look out not to leave out the poor. They need to be integrated into the system of formal ownership. The planners should have in mind that the poor are potential people, who with the right environment can be very productive and develop their country.

The implementation of legal system that allows ownership of property will enable them come together and contribute to a common capital that will take them further than individual savings. It simply reduces the time taken to accomplish great tasks and achievements.

Many law breakers do so with genuine reasons. They break the law to find their freedom. The level of poverty in a country should determine the solution strategy that a government chooses to take. This is because the poor are actually the solution to the problems encountered in every society. They have dead human capital that should be utilized. This is in form of the amount of work they are capable of doing, the assets they have in form of land and even the potential in their minds.

When people have a system that is consistent and well maintained documents they get motivated. They are able to invest and put all their efforts without fear of losing. They get assured that their labor will be paid. They become satisfied by recognition by the institution they are working for.

Conclusion

Capitalism is not taken seriously by those who should be doing their best to implement it. Instead the ones in the greatest need deny themselves. Instead of opposition, they should cross over and support capitalism. It is a tool that if used effectively can reap great rewards. The big challenge in third world is how the local market system can transformed so that it expands. Their focus should be to improve the lives of the poor, promote freedom, compassion, and social contract and create equal opportunities for all. It requires those in third world to use their minds so as to liberate them and promote development. The developed nations should also work to maintain what they have and also do more for they still have a room to improve.

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Third World Countries: Legal System Implementation

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