#19 – Logan Chipkin: Understanding Economics
Arjun Khemani Podcast
The Importance of Private Property in Wealth Creation
Mankind was born into utter poverty. And the fact that there's any wealth at all, that is the question that needs answering. It's not why are there poor people and how do we make more people rich? Austrian economics tells us that basically private property is one of those ingredients. Any mitigation of private property ownership of scarce resources reduces humanity's ability to generate wealth relative to a situation in which private property rights are fully respected.
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