Property, Rule of Law & Freedom

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Canada Free Press:

Let's Return to Constitutional Economic Rights Before it's Too Late

 

Property, Rule of Law & Freedom

 

Kelly OConnell (Bio and Archives) Wednesday, January 9, 2013

While in the midst of a wholesale reevaluation of the right to private property, it is timely to reexamine the history of US property rights. What exactly caused America’s unparallelled level of prosperity and freedom? Certainly our economic success then created unparallelled global influence and military might. But what factors allowed America’s stunning growth in economic power in such a short period of time? This economic success was driven by a firm Rule of Law regime which supported the Constitution’s unique defense of private property.

What is the relationship between property, Rule of Law and prosperity? In a nutshell, history shows that unless private property is protected by a firm, unyielding and unbiased Rule of Law, markets will not flourish. Therefore, wealth will not grow and all the other things associated with a prosperous society will also fall by the wayside. The reasons for this are ultimately based in human nature. People are not automatons who simply go about doing “what we are supposed to do.” Instead, human motivation and productivity are very much tied into the rewards and risks found in any undertaking. Yet, if the government takes away the rewards of ambition, leaving behind only the risks, then productivity will fall precipitously.

I. History & Importance of Rule of Law

 

The Rule of Law as a concept is tied historically to such thinkers as Aristotle, and legal developments such as the Ten Commandments, a foundational legal code. The American Constitution is a concrete example of Rule of Law theorizing, creating a bedrock set of precepts. As a concept, the Rule of Law is a necessary addendum to the Natural Law theory of jurisprudence.