Message from the HOD

Property rights provide the owner with the legal ownership of a resource. This is backed and enforced by the legal system as well as the protections government provides through law and order. It allows owners to freely use their resources however they see fit – with the comfort that their assets will be legally protected. For businesses, this means that they have the right to use their capital to produce goods without fear of loss. This is backed and enforced by the legal system and law and enforcement provided by the government.These property rights allow for a free and efficient market. By employing property rights, any disputes over economic resources are resolved in a peaceful and amicable way through the courts.The importance of property rights cannot be understated. It is one of the key cornerstones of a stable and prosperous economy.