Lesson 4: Property Rights | Intercollegiate Studies Institute

Lesson 4 Lesson 4: Property Rights

Presented by: Dr. Tawni Ferrarini
Northern Michigan University

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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.

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HMW Lesson 4: Property Rights

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From the years 1800-2000 real GDP per capita has not increased much.
- True
- False

The foundation for economic progress is a stable legal system that protects privately owned property.
- True
- False

When property rights are insecure legal corruption is pervasive, property can be confiscated, agreements are not even-handedly enforced, and political favoritism is present.
- True
- False

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

John Locke

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Video

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

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Who Owns What? - How To Save A Dying Ocean

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

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PDF

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

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

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

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Lesson 4 Lesson 4: Property Rights

Government Institutions and Property Rights

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HMW Lesson 4: Property Rights

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