Why private property is important



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why private property is important

a b Property Rights in the History of Economic Thought: From Locke to J.S. Mill, by West, Edwin G. 2001. Property Rights: Cooperation, Conflict, and Law, ed. Terry Lee Anderson and Fred S. McChesney, Princeton University Press, 2003, Ch. 1 (pp. 20–42).

  • ^ O'Hara, Phillip (2003). Encyclopedia of Political Economy, Volume 2. Routledge. pp. 782–783. ISBN 0415241871. The derivation of natural moral theory has provided the foundation for the use of economic theory to support specific ideological viewpoints. The main strength of the legitimating role of economic theory is that it allows one set of ideological viewpoints to posture as if their conclusions were unbiased scientific conclusions, while those opposing them were merely expressing their value laden opinions. At its apex, this tendency has justified laissez-faire economic policies as if they were based on natural laws. Always behind the legitimization activities of economists is the belief that markets are 'natural' institutions and market outcomes are natural outcomes, and the institutions necessary for markets, such as private property rights, are 'natural rights'.

  • ^ Connell, Shaun. "Property Rights 101: The Foundation of Capitalism Explained". Capitalism Institute. Archived from the original on 29 October 2012. Retrieved 25 October 2012.

  • ^ The Political Economy of Socialism, by Horvat, Branko. 1982. Chapter 1: Capitalism, The General Pattern of Capitalist Development (pp. 15–20)

  • ^ ZERA (2013). "The Socialist Calculation Debate". economictheories.org. Retrieved 2020-03-21.

  • ^ "Property Rights and Capitalism" (PDF).

  • ^ "Property Law 440" (PDF).

  • ^ Gewirth, Alan. (1996). The Community of Rights. University of Chicago Press. p. 168

  • ^ Capital, Volume 1, by Marx, Karl. From "Chapter 32: Historical Tendency of Capitalist Accumulation": "Self-earned private property, that is based, so to say, on the fusing together of the isolated, independent laboring-individual with the conditions of his labor, is supplanted by capitalistic private property, which rests on exploitation of the nominally free labor of others, i.e., on wage-labor. As soon as this process of transformation has sufficiently decomposed the old society from top to bottom, as soon as the laborers are turned into proletarians, their means of labor into capital, as soon as the capitalist mode of production stands on its own feet, then the further socialisation of labour and further transformation of the land and other means of production into socially exploited and, therefore, common means of production, as well as the further expropriation of private proprietors, takes a new form. That which is now to be expropriated is no longer the labourer working for himself, but the capitalist exploiting many laborers."


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