Justice

Private Property and Oppurtunity Costs

Dwight R. Lee
Markets promote the general interest by revealing costs while governments commonly favor special interest by concealing those costs. In this podcast, Dwight Lee discusses opportunity costs by introducing the critical role of private property. Private property lies at the foundation of market economies because without private property, and the exchange it fosters, people would be unable to consider the full costs of their decisions. (8:22 minutes)

Related Articles

Social Cooperation and the Marketplace

Dwight R. Lee - September 26, 2013

Opportunities and Costs

Dwight R. Lee - September 26, 2013
{{article.BodyText}}

SIGN UP FOR THE DAILY NEWSLETTER

Edit