The "What is Money?" Show cover image

The Psychology of Property | The Stephan Kinsella Series | Episode 4 (WiM235)

The "What is Money?" Show

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How to Use Resources in the Most Efficient Way

"I could dynamically adapt and use these resources in their most efficient way instead of just pumping out horseshoes," he says. "Because I'm the owner and my main goal is to make a monetary profit, I don't care whether I make the monetary profit from selling the horseshoes or selling the raw iron." The system effectively gums up or short circuits free market incentives that would apply if you simply allowed the people making the decisions to have private property rights in both sides of the equation", Hans argues.

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