The lesson of Thanksgiving: private property is best


The lesson of Thanksgiving: private property is best.

 

The First Thanksgiving, painted by Jean Leon G...
Image via Wikipedia

If individuals can take from a common pot regardless of how much they put in, each person has an incentive to be a free-rider, to do as little as possible because what one fails to take will be taken by someone else.  Soon, the pot is empty.What private property does – as the Pilgrims discovered –is connect effort to reward, creating an incentive for people to produce far more.  Then, if there’s a free market, people will trade their surpluses to others for the things they lack.  Mutual exchange for mutual benefit makes the community richer. John Stossel

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