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Tuesday, April 3, 2012

Private Property: A Foundation for a Strong Economy

Private Property ownership or control is central to having a strong economy. It obviously establishes ownership, but what else does it establish? From the establishment of ownership, the owner of the property can manage risk, calculate economic costs, generate and produce goods or services to the marketplace. It is key because it allows the individual ownership or control over factors of production. Some articles expanding on this topic:

http://www.econlib.com/library/Enc/PropertyRights.html

http://mises.org/daily/4718


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