[This article is adapted from a lecture delivered at the Reno Mises Circle in Reno, Nevada. on May 20, 2023.]
It is not an exaggeration to say that property rights are a prerequisite for civilization. As Ludwig von Mises wrote in The Free and Prosperous Commonwealth:
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will. It allows other forces to arise side by side with and in opposition to political power. It thus becomes the basis of all those activities that are free from violent interference on the part of the state. It is the soil in which the seeds of freedom are nurtured and in which the autonomy of the individual and ultimately all intellectual and material progress is rooted (emphasis
2023-06-03