A blupete Essay

Achilles' Heel of Socialism, Part 11 to blupete's Essay
"On Property Rights"

No one has to be told about how pride of ownership will normally compel a person to take care of what he or she owns. It applies to items of personal use; and, also, importantly, to all capital goods in this vast economy of ours.

Arthur Seldon:

"The central advantage of capitalism over socialism in the husbandry of property is that the real owners in capitalism take care of their property; the nominal owners in socialism cannot because they do not know what they own. What belongs nominally to everyone on paper belongs in effect to no-one in practice. Coalfields, railways, schools and hospitals that are owned 'by the people' are in real life owned by phantoms. No nominal owner can sell, hire, lend, bequeath or give them to family, friends or good causes. Public ownership is a myth and a mirage. It is the false promise and the Achilles' heel of socialism. The effort required to 'care' for the 50-millionth individual share of a hospital or school owned by 50 million people, even if identifiable, would far outweigh the benefit; so it is not made, even if it could be. The task is deputed to public servants answerable to politicians who in turn are in socialist mythology answerable to the people. In this long line of communication the citizen is often in effect disenfranchised. The wonder is that the myth of public ownership continues to be propagated by men and women who aspire to political leadership."16
If one owns assets then they will see to the careful management and employment of them. No one has to tell owners of property the importance of this; no one has to pass out rewards for the proper use of an asset, or exact punishment for improper use. The advantage of ownership is gained in its proper use of it: lost in its improper use. When an owner misuses his property and he devalues it or loses it; he has no one to blame but himself. When an owner puts his property to good use and experiences a gain thereby; then, likewise, he can thank himself. No third party need be thanked or blamed. Harmony comes about naturally when people have ownership in the assets that they use or employ.


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Peter Landry

2011 (2019)