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Wednesday, November 26, 2008

Important Economic Lessons from Thanksgiving

There are some important, but often overlooked economic lessons about our celebration tomorrow of Thanksgiving: private property rights, the tragedy of the commons, the failure of communal farming, socialism vs. capitalism, and the triumph of the free enterprise system. Read about it here.

2 comments:

  1. Dr. Perry,

    Happy Thanksgiving!!

    I enjoy reading your blog.

    -MBA student

    ReplyDelete
  2. Note that every Pilgrim family was assigned a parcel of land.

    What would they have done without "free" land?

    How are today's landless to prosper without land and without property rights?

    ReplyDelete

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