Colorful Markets

by Don Boudreaux on October 3, 2009

in Complexity & Emergence, Everyday Life, Property Rights

Here’s one of the many unsung ways in which private property rights are enforced and protected decentrally — or, put differently, ways in which free-rider problems are mitigated largely through private, individual, localized actions instead of through command-and-control legislation, taxation, or subsidization.

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