… is from John Cochrane’s September 3rd, 2020, blog post, “On looting” (which is a riff on Graeme Wood’s must-read assessment of what is obviously one of the most lunatic books ever published):
Our society and our prosperous economy are built on the bedrock of private property and the rule of law which defends that property. That may not be pretty or fulfill a college sophomore’s utopia, but the hard lesson of a thousand years is that only private property provides the incentive for people to maintain that property — farms, houses, factories, stores — and to put in the immense effort to provide commodities of value to their fellow humans.
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