11. Property Rights and Prosperity
Thu, 2011-06-16 20:05 | by ddoctor
Featured Video
Speaker
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.
Learn More
- 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.
Questions
Use these questions to enhance your understanding of the topic. We recommend watching the featured video first; the suggested resources will also help.
- Login or register to post comments
- Back to Top
Comments
Do land and other natural resources constitute property which an owner can use or waste as he/she so wishes?
These resources are limited and when they are held out of use for speculation in their value, the opportunities are reduced and the costs of access rise. Thus natural resources are not the same as durable capital and the rights to these resources are not of the same nature. [Reference: Henry George, 1879 "Progress and Poverty"]