Thursday, October 27, 2011

How Fundamentally Human Are Property Rights?

How about this: 3 year olds understand property rights.

And not just their own property rights: they apparently understand this it is their duty to protect the property rights of others from abuse.

I argue in my macroeconomics classes that broad societal acknowledgement of this point is one of the things that caused the growth miracle of the last 3 centuries.

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