By Soham Patil
Private property rights are under fire by progressive elites—even as those same elites protect their own property fiercely. But without these rights, a functioning economy is not possible.
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21 sats \ 2 replies \ @Coinsreporter 7 May 2024
Private property rights are not as same as allodial property rights. In US, there's no such property that can be classified as allodial.
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0 sats \ 1 reply \ @Undisciplined OP 7 May 2024
Property rights are obviously imperfectly enforced, but that doesn't change what they are conceptually. The closer societies are to proper rights enforcement the wealthier they will be.
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0 sats \ 0 replies \ @Solomonsatoshi 17 Nov
The quality of government is important too...a government that does not provide vital infrastructure and capital allocation to goods and services provision in areas that private capital fails to allocate will fail to maximise the wealth, security and prosperity of its citizens.
Rare Earths is just one of many examples of a market and supply chain where private markets fail to provide and support the best outcome for an economy and where government capital allocation and strategic investment is vital.
Another example is the ability of a nation state to project its power via military strength- the wealth of the USA is highly dependent upon this factor as it enables it to advance the interests of its corporates via use of force and the threat of use of force- it is via this military capacity that the petrodollar hegemony has been maintained and the extraordinary monetary privilege of the USA has been supported.
State based monetary and military power projection are significant factors in the wealth of nations. The success of private enterprise is often subsidiary to and dependent upon them.
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21 sats \ 1 reply \ @Satosora 6 May 2024
They want to have the cake, and eat it at the same time.
The people at the top, they are more crooked than the people in prison.
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0 sats \ 0 replies \ @Solomonsatoshi 17 Nov
Blaming 'the government' is an easy cop out- where there is no government people are usually much worse of and hasten to establish one as quickly as possible because they know that only a government can provision the laws, security and property rights enforcement that are the basis of a strong prosperous economy.
The neoliberal-Libertarian dogma that government is all bad has resulted in the decline of western civilisation. It was only via the careful shepherding of resources and capital that western nations gained global dominance and hegemony over all other peoples.
That advantage is now in peril due in large part to neoliberal-Libertarian nonsense.
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