Quote by Friedrich A. Hayek

What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves. If all it be nominally that of

What our generation has forgotten is that the system of priv

Summary

private property and free enterprise, let us remember that in any serious danger to personal liberty only property rights can preserve it. This quote highlights the significance of private property in ensuring freedom for both those who own property and those who do not. The division of control over means of production among independent individuals limits the power exerted over society and allows individuals to make independent choices. Emphasizing the importance of property rights, the quote suggests that only through preserving these rights can personal liberty be safeguarded in times of potential threats. Ultimately, private property is deemed crucial for maintaining a free and independent society.

Topics

Property

By Friedrich A. Hayek

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