What's Required for Progress?

Cliff May at NRO provided some food for thought today in NRO's Corner: "Development requires private property rights, tort law, an independent judiciary, market access, [and] disincentive to corruption...." Mongolia's well on the way in establishing these things, but it'd still make a good to do list for the country's leaders:

1. Private property rights
2. Tort law
3. An independent judiciary
4. Market access
5. Disincentive to corruption

Of course, none of these things are that easy to come by. For starters, establishing private property rights in a land of nomads is something that's going to be beyond difficult (this is something I'd like to explore more soon). But it's a good list to have on hand nonetheless.