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Greenspan on intellectual property rights

In a speech on 'Intellectual property rights' given on 27 February, Alan Greenspan of the Federal Reserve discussed the necessity of protecting property rights in general and cited the American "Wild West" and former Soviet Union as two cases in which a lack of property-rights protection led to economic disaster.

"Leaders of [former Soviet states] recognize that their future economic success will depend on an efficient and predictable rule of law," Greenspan said.

He also stated that governments

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