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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…
Imagine a World of Individual Flourishing
In “honor” of May Day, the socialist holiday celebrating the destruction of property rights, I offer Chapter 1 of Principles and Property Rights for free. Imagine no possessions, I wonder if you can, No need for greed or hunger, A brotherhood of man, Imagine all the people sharing all the world. John Lennon, “Imagine” We…
Property Rights and the “Little Guy,” Part 1
We often think of property rights in regard to the wealthy and big corporations. In a certain sense, this is understandable. They have a lot of property. But property rights are important to everyone, including the “little guy” who has little property. The right to property means the freedom to create, use, keep, trade, and…
Home Ownership is not Rent Control
Leftists often argue that home ownership is essentially the same as a rent-controlled apartment. While the details of their argument might vary, they advance this claim in an attempt to make rent control more palatable. They want us to believe that, if home ownership is desirable, rent control should be as well. Home ownership, they…
Deed Restrictions Versus Property Rights?
Last Friday, the Texas Supreme Court ruled that short-term rentals are not a commercial use of property. The case involved a home owner association that claimed short-term rentals were a commercial use and violated its deed restrictions (also called covenants). Patrick Sutton, the home owner’s lawyer, said, This is about as strong of a property…