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Home Equity Theft
In 2015, Hennepin County, Minnesota, seized a condominium for $15,000 in unpaid property taxes. A year later, the condominium was sold for $40,000. The county kept all of the money in an act that many call home equity theft. The condo owner sued and the US Court of Appeals for the 8th Circuit ruled for…
The CodeNext Debate: Gang Warfare
I have previously written, albeit briefly, about both the economic and moral aspects of opposition to Austin’s CodeNext. The debate over the city’s proposed new land-use regulations is an example of the gang warfare that permeates modern American politics. On one side we have developers and their lobbyists. On the other side, we have community…
When “Rights” are Wrong, Part 1
Gresham’s Law holds that “bad” money drives out “good” money. For example, if legal tender laws declare that a one ounce brass coin and a one ounce gold coin are both worth $10, the more valuable gold coin will disappear from circulation. While Gresham’s law pertains to economics, the same principle applies to rights. When…
Punish the Guilty, not the Innocent
Arlington has become the latest Texas city to consider regulating short-term rentals (STRs). In response to complaints about “party houses,” the city has been discussing what to do about the problem. The Forth Worth Star-Telegram reports: The city has already held town hall meetings where residents have complained that party houses pop up and cause…
Low-income Individuals Need Property Rights
Government programs and policies may help some low-income individuals survive, but they do not and cannot lift anyone from poverty. Only the protection of property rights enables individuals to improve their economic status, and this is particularly true of those who have little or no property. The right to property means the freedom to create,…
Economic Freedom and Property Rights
Each year, the Fraser Institute releases an Economic Freedom in North America report. In its most recent report, Florida is the most economically free state and Texas is in third place. New York is the least free, and its west coast intellectual cousin–California–occupies the forty-seventh position. Conservative organizations point out that economic freedom leads to…