The lockdown has imposed unprecedented economic hardship on Americans. Tens of millions have lost their jobs. Countless businesses have been forcibly closed, and many will never reopen. Retirement and savings accounts were depleted so that individuals could meet their current financial obligations.
The suffering and sacrifice forced upon us illustrates the importance of property rights, including the freedom to produce and trade. At its essence, the lockdown was an attack on property rights. Government officials dictated who could produce and who couldn’t. Those same officials mandated the terms by which businesses could operate. The controls and restrictions imposed by the lockdown removed our freedom to produce and trade as we deemed best.
As the lockdown has made painfully clear, without property rights, we cannot produce and trade the values that our lives require. Without property rights, misery and suffering is the inevitable result.
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