Quotation of the Day…

by Don Boudreaux on October 11, 2012

in Civil Society, Property Rights

… is from page 162 of Tom Bethell’s 1998 volume, The Noblest Triumph (original emphasis):

The great blessing of private property, then, is that people can benefit from their own industry and insulate themselves from the negative effects of others’ actions.  It is like a set of invisible mirrors that surround individuals, households or firms, reflecting back on them the consequences of their acts.  The industrious will reap the benefits of their industry, the frugal the consequences of their frugality; the improvident and the profligate likewise.  They receive their due, which is to say they experience justice as a matter of routine.  Private property institutionalizes justice.

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