11. Property Rights and Prosperity
Tom W. Bell is a professor at Chapman University School of Law.
Prof. Tom W. Bell explains why are property rights important, even for those who own the least. Property rights prevent conflicts over scarce resources, encourage productive labor, and discourage waste, allowing people to live together in peace, prosperity, and freedom. Bell bolsters his argument by drawing on classical liberal scholars such as Friedrich Hayek, Randy Barnett, Robert Nozick, and Ludwig von Mises.
- In the Absence of Private Property Rights [Article]: Dwight R. Lee explains how private property is the necessary foundation of cooperation and human progress.
- Property Rights [Article]: Armen A. Alchian defines the concept of property rights and the various ways they can be defined, allocated, and protected.
- The Economics of Property Rights [Article]: Andrew P. Morriss uses property rights to explain various patterns of social order.
- The Role of Private Property in a Free Society [Article]: Peter Boettke demonstrates that clearly defined and enforced property rights are a prerequisite to economic prosperity and social harmony.
Use these questions to enhance your understanding of the topic. We recommend watching the featured video first; the suggested resources will also help.