Last week, the Fraser Institutes, a Canadian think tank, confirmed what many of us already know – property rights in South Africa are in serious trouble. Of the 42 indices that the Economic Freedom of the World report measures, South Africa’s score has quickly declined in the area that is arguably the most important for a functioning and prosperous nation: the protection of property rights.
In 2018 (the most recent year data is available), the Fraser Institute found that out of 161 nations, South Africa now ranks 82nd in their strength of property rights protection. This represents a fall of 68 places compared to where South Africa sat just five years earlier, when the nation ranked a respectable 14th. South Africa’s protection of private property rights now scores only marginally better than countries such as Russia and Egypt, and far below states such as Iraq, Brazil, and Kazakhstan….
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