Within Bangkok's Klong Toey slum, there is one area relatively free of stinking refuse.

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Not far from the Karen Club is Kibera, a slum of 600, 000 people in an area only a little larger than an 18-hole course.

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Until last year, the area was still classified by city authorities as an illegal slum.

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In 1980 Villa Tunari, the area's small administrative centre, was a roadside slum.

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So a typical slum rent is much higher, relative to the value of the house, than it would be in a posh area where landlords have title deeds.

ECONOMIST: No title