Praise for Property

Originally published in Journal of Private Enterprise

McCloskey's Bourgeois Deal, the process of profit seeking and competition, leads to widely shared prosperity. Free and dignified people living under a system of private property promote exchange, innovation, and wealth. This Bourgeois Deal can be offered in poor countries today: establish property rights and praise private property and the profits generated from such a system. Ideas in favor of free markets make us rich, and these ideas should be reasserted in development economics.

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