Why is private property, and the protection of property rights, so crucial to the success of the market system?


3 Answers

Duane Bryant Profile
Duane Bryant answered
RIGHT!!!  Why buy it if you can steal it?  And if everyone can steal it, no one's going to buy it.
Oddman Profile
Oddman answered
The idea of the market system is that the owner of a good or the provider of a service will be paid by someone who wants the good or service. If the user/recipient can steal it (acquire it without paying the owner), then it is not a market system. If someone not the owner can sell it without having to pay the owner, then it is not a successful market system.

Property rights protection attempts to assure that only the owner can legally sell a given good or service and reap the profit therefrom.
Anonymous Profile
Anonymous answered

A builder who takes into account
the protection of property rights will only be successful in their business. Builders
and developers should comply to all property rights while constructing flats
and apartments, as it can help avoid issues in the future. There are many builders
in Kerala who offerluxury flats in Kochi that are built complying to all building rules and regulations.
Builders who do not comply to the protection of property rights can find it
really difficult to find success in their business.

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