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How Markets Work

5 Units   3H 45M
Parts
  • Introduction
  • The Price System
    • Lesson 1: The Invisible Hand
    • Lesson 2: Economic Choices
    • Lesson 3: Supply & Demand
  • Pre-Conditions for Wealth
    • Lesson 4: Property Rights
    • Lesson 5: Legal Institutions
    • Lesson 6: Virtue
  • The Entrepreneur
    • Lesson 7: The Entrepreneur
    • Lesson 8: The Knowledge Problem
    • Lesson 9: Spontaneous Order
  • Money
    • Lesson 10: The National Economy, Part 1
    • Lesson 11: The National Economy, Part 2
    • Lesson 12: Monetary Policy
  • Economic Growth
    • Lesson 13: Trade
    • Lesson 14: Poverty
    • Lesson 15: The Economic Future

Lesson 4 Lesson 4: Property Rights

Presented by: Dr. Tawni Ferrarini
Northern Michigan University

Playlist

  1. Property Rights and the Production of Wealth, Part 1
  2. Property Rights and the Production of Wealth, Part 2
  3. Property Rights and the Production of Wealth, Part 3

Government Institutions and Property Rights

What role should government play in economics? In this lesson, you will learn how market economies need government institutions to enforce property rights, and how a person’s ability to own and exercise control over property determines how well markets function.

Lesson Four Quiz

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HMW Lesson 4: Property Rights

Step 1 of 3

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Being all equal and independent, no one ought to harm another in his life, health, liberty, or possessions.

John Locke

Learn More

h Video

The Power of Property Rights with Dr. Tom W. Bell and Learn Liberty

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h Video

Who Owns What? - How To Save A Dying Ocean

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h Video

Milton Friedman - The Four Ways to Spend Money (Free To Choose Network)

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h PDF

James Gwartney et al., Common Sense Economics, pp. 34-43, 49-64

Read Now
h PDF

John Locke, The Enhanced Edition of John Locke’s Two Treatises of Civil Government, pp. 206-214

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h PDF

Armen Alchian, “Property Rights,” The Concise Encyclopedia of Economics

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How Markets Work

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