Friday, July 25, 2008

Private Property Rights

Here is an excellent free access article in the Summer 2008 edition of The Objective Standard. Through a look at the history of the electric grid, it elucidates the importance of private property rights even for something which seems so strongly to belong to the community as electricity transmission. It also does a great job explaining the seduction of regulations which promise, but do not deliver, the ability of private enterprises to move forward by permitting use of the commons rather than through private property agreements.

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