Explain why the boundaries imposed by property Dr. Robert Murphy

Question 6 / 96: Explain why the boundaries imposed by property ownership are absolutely essential to a capitalist system.

Answer:

Capitalism gives people the freedom to start any business or to

work for any employer that they desire. Consumers are also free

to buy or not buy whatever products and services they desire. The

only way this system can work is if there are strict boundaries on

who owns what, so that it is clear which person has the right to

use or trade away a particular good.

Sample Partial Credit Answer

If people didn't get to keep the fruits of their labor, they would have no reason to work hard.

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https://www.jobilize.com/capitalism-the-market-economy-by-dr-robert-murphy-mises

Capitalism: The Market Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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