This abridged note is basically about "property rights" established in a society. It talks about the importance of property rights as an institution, the reasons why other alternatives/ philosophies/models are not workable like "property rights", the role of "property rights" in making free and peaceful trading possible in our market, the relationship between property rights and other institutions in the market, and also the origin and evolution of property rights. It demonstrates clearly the definition of "property rights" as part of the human right and argues greatly on why other concerns on property rights are not legitimate.
Some of the questions that come into my mind:
1. why is it that when civilization was first born there were no property rights concept in the people who found the civilization? How did king eventually come into the picture and start forcing people to give things to them without the idea of property rights?
2. During the colonization era, when British colonized countries over the world, are they exploiting the natives? The colonies are weaker, far less developed than British, lack of education and technology, but the nation grew, they gain technology and ideas and other products resulted from the industrial revolution and so on. What if they were deprived from the property rights, are they still being considered as being exploited?
3. Will there still be a need for property rights if all the resources become unlimited and abundant? (Like for instance in heaven which time is eternal with no scarcity at all)
I remain neutral to the notes (since it's just notes), but I think that the final legitimate concerns and considerations about property rights are not really a "legitimate" concern because humans react to incentives and this is what makes things around human evolve and become better. I believe it is just a matter of time before human comes out with a perfect scenario with perfect justice and equality through trial and error, innovation and so on.
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