The most prosperous countries around the world have governments that not only acknowledge individual rights, but protect those rights in law.
Conversely, countries that restrict individual rights are the least prosperous.
Seems to be a correlation there. The more rights individual citizens have, the more prosperous they will be, and the fewer rights they have, the less prosperous they will be.
If you doubt then ask yourself, what form of government do the most prosperous countries have, and what form of government do the least prosperous countries have?