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Private Property Is The Most Important Guarantee Of Freedom

Written by | August 17th, 2012

“Our generation has forgotten that the system of private property is the most important guarantee of freedom. It is only because the control of the means of production is divided among many people acting independently that we as individuals can decide what to do with ourselves. When all the means of production are vested in a single hand, whether it be nominally that of ‘society’ as a whole or that of a dictator, whoever exercises this control has complete power over us. In the hands of private individuals, what is called economic power can be an instrument of coercion, but it is never control over the whole life of a person. But when economic power is centralized as an instrument of political power it creates a degree of dependence scarcely distinguishable from slavery. It has been well said that, in a country where the sole employer is the state, opposition means death by slow starvation.”

– Friedrich A. Hayek (The Road To Serfdom)

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One thought on “Private Property Is The Most Important Guarantee Of Freedom

  1. Mark Ross Post author

    “In short, when this [16th] amendment became part of the Constitution, in 1913, the absolute right of property in the United States was violated. That, of course, is the essence of socialism. Whatever else socialism is, or is claimed to be, its first tenet is the denial of private property. All brands of socialism, and there are many, are agreed that property rights must be vested in the political establishment. None of the schemes that are identified with this ideology, such as the nationalization of industry, or socialized medicine, or the abolition of free choice, or the planned economy, can become operative if the individual’s claim to his property is recognized by the government. It is for that reason that all socialists, beginning with Karl Marx, have advocated income taxation, the heavier the better.” – Frank Chodorov (The Income Tax: Root of All Evil)

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