Bob barrow was at universityf chicago at the time, one of his favorite colleagues to talk to was bob lucas. Barrow had a sign on his door, no moking except for bob Lucas. It's a beautiful example of the subtlety of property rights. The idea that you can let people into your house if you choose, and you can keep them out if you choose. That's in a way, the essence of private property.
Economist and author David Henderson talks about his book (co-authored with Steve Globerman) The Essential UCLA School of Economics with EconTalk host Russ Roberts. Much of the conversation focuses on the work of Armen Alchian and Harold Demsetz, who both saw economics as a powerful tool for understanding human behavior and how the world works.