Private Property and Oppurtunity Costs

SEPTEMBER 26, 2013 by DWIGHT R. LEE

Markets promote the general interest by revealing costs while governments commonly favor special interest by concealing those costs. In this podcast, Dwight Lee discusses opportunity costs by introducing the critical role of private property. Private property lies at the foundation of market economies because without private property, and the exchange it fosters, people would be unable to consider the full costs of their decisions. (8:22 minutes)

ABOUT

DWIGHT R. LEE

Dwight R. Lee is the O’Neil Professor of Global Markets and Freedom in the Cox School of Business at Southern Methodist University.