Wednesday, February 27, 2008

Random Thoughts: Private vs Public Ownership

As my friends know, I tend to run quite a lot. A few days ago, after the snowstorm, I was running through my neighborhood. The roads were already cleaned, and the sidewalks were clean too. Well.... with a few small exceptions. All sidewalks in front of private homes were cleaned, but whenever I had to pass by a small park, green acres or city lot, it was snowy and slushy and had to jump on the road or step in deep snow.

This is a basic economic principle: private owners take better care of property than public owners (the city, the state or the feds). Private ownership is the key to higher living standards, not government control. Ever thought why ALL wildfires are starting on public lands? And I said it's an economic principle, not a political one, because this is not just about the government. It's simply about private ownership vs. the rest. Another example: while there is an endless supply of goldfish, the whales are often considered an endangered species. Why? Because goldfish are privately raised and sold, while whales are a common resource. It's private owners that are vested into preserving a resource.

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