Re: Why has the free market left South Americans poor

On 11 Dec 2005 20:50:52 -0800, "Brablo" <gestureofrespect@xxxxxxxxx>
wrote:

>This is very interesting to me. However, I have a few questions:
>
>1. How is the institution of private property in land is not
>compatible with a genuine free market?

Land cannot become property in the first place except by forcible
appropriation, and private property in land inherently violates the
right to liberty.

>2. What are the qualities of a country which is able to distinguish
>land from capital?

Interesting question. Integrity would have to be a big one.

>Are there any countries which fits this profile?

Singapore is pretty close. HK used to, but is now part of China.

>3. What are the differences between privately and publicly created
>value? Examples?

Privately created value is value that is initially owned by its
creator, like the value of physical goods. Publicly created value
usualy takes the form of an externality, where value appears in
something that is not owned by its creator, like someone else's land.
Publicly created value takes two broad forms: value created by
government in the public's behalf, and value created by an
indefinitely large number of people privately pursuing goals not
obviously related to the value their activities create. E.g., when
people move into an area, the increased commercial opportunities
resulting from their presence increase the value of the land.

-- Roy L
.

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