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Property Rights: A Practical Guide to Freedom and Prosperity (Hoover Institution Press Publication)
Posted on 2010-03-15
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More The idea that property rights provide the foundation for a free society has long been understood. To those who penned the Magna Carta in England, as well as to the American Founding Fathers who drafted the Declaration of Independence and the Constitution, protecting private property was of utmost importance. Today, however, property rights are being threatened by a variety of state, national, and international forces. The U.S. Supreme Court, for example, dealt property rights protection a significant setback in a case concerning property near Lake Tahoe, ruling against landowners and holding that they were not entitled to compensation for losses caused by regulatory restrictions. Although the Tahoe case pales in comparison to some of the takings by tyrannical governments in other parts of the world, it illustrates the necessity of vigilance and of understanding the relationship between secure property rights and a free society. This book seeks to explain the crucial connection between secure property rights, freedom, and prosperity. Drawing on the thoughts of various philosophers, political thinkers, economists, and lawyers, the authors present a blueprint for the nonexpert on how societies can encourage or discourage freedom and prosperity through their property rights institutions. They detail step-by-step what property rights are, what they do, how they evolve, how they can be protected, and how they promote freedom and prosperity.
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