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Unf*cking The Republic cover image

Understanding Socialism: Part Three. The “Critique Phase” (1825–1870).

Unf*cking The Republic

NOTE

The Significance of Private Property in Economic Growth

Private property and its legal protections have been a critical factor in facilitating large-scale economic growth, alongside technological innovations. English common law and Napoleonic codes set the template for property rights in the developed world, leading to economic innovations in banking and the emergence of corporate structures. The concept of private property played a crucial role in enabling the entry of the petty bourgeoisie into capital markets and allowed for the rise of new labor classes in the industrial era.

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