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Robert Vroman's avatar

The fundamental source of property rights is force. I exclusively control this land or object because either myself, or some institution I am a member of, have credible capacity to kill anyone who interferes with my ownership. That's it, any other answer is at least a step removed from reality.

But we know that trade > force in the long run, so the goal is to foster a system that maximizes trade, while acknowledging the basis of who owns what today or tomorrow rests solely on the ability to physically protect it. So we cooperate as much as possible on when that force must be deployed, currently (suboptimally) administered by governments, but not necessarily so.

Joe Potts's avatar

Bruenig's opening statement was a lot of learned twaddle.

Yours was opening (y)our eyes and looking around. While thinking about it.

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