Efficient Property Rights & Human Development
DOI:
https://doi.org/10.51699/emjms.v26i5.275Keywords:
Human Development, Natural Resources, Property RightsAbstract
This study investigates the interplay between human development and the efficiency of property rights, emphasizing their role in the sustainable management of natural resources. The research highlights the limitations of property rights frameworks, particularly for open-access resources, such as the Buriganga River in Bangladesh. Primary data were collected through interviews and questionnaires with 30 participants from diverse socioeconomic backgrounds, complemented by secondary research from scholarly texts and reports. Findings reveal that the lack of human development—manifested through low education, poor awareness, and limited social responsibility—hinders the effective application of property rights and contributes to resource degradation. The study validates the hypothesis that well-defined property rights alone are insufficient without parallel advancements in human development. It recommends incorporating awareness programs, practical applications, and collaborative efforts between the state and the public. The paper concludes that fostering human development is essential for achieving sustainable resource management and broader economic growth.
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