Sri Lanka expropriations a blow to entrepreneurship: businessman

June 14, 2012 (LBO) – A new wave of expropriation by Sri Lanka’s rulers is a blow to entrepreneurship in the island and a misguided repetition of a grave error that has harmed its people in the past, a Sri Lankan entrepreneur has warned. European System

But analysts say the origins and widespread practice of both nationalism and socialism lay in Europe, particularly Eastern Europe, which had lagged behind Western Europe because of it.

Sri Lankan rulers got the powers to pass any unjust law, and take away their freedoms through a European-style legislating parliament which they inherited, when the people gained self-determination from British.

Around the world property rights were largely absent during feudal rule as all property belonged to the king. Widespread property rights developed largely in Western Europe and spread to the rest of the world gradually.

In Asia, Japan created property rights literarily overnight after the Tokugawa Shogunate was broken.

In Eastern Europe particular however a legislating bodies that emerged after the end of feudal rule passed many ‘laws’ that gave powers formerly held by the king to the mechanism of what came to be known as the state.

The state enforced such leg