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GOVERNMENT FUNCTIONS: Activities that are more efficiently performed by government than by private sector households and business. In fact, historical evidence (that is, 10,000 years of civilization--more or less) strongly indicates that we, regularly human-being-type people, are willing to put of with the coercive shenanigans of government (taxes, laws, regulations, abuse of power, oppression of the masses, meaningless wars) only because government does perform useful functions. Fire is the best analogy for government. When raging out of control both fire and government can cause horrific devastation. But when controlled, both can provide unparalleled good.
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PROPERTY RIGHTS The legal ownership of resources, which entitles the owners to receive the benefits or pay the costs associated with productive activities of the resources. Property rights can be owned individually (to the exclusion of others) or jointly by several members of society. The institution of private property is a form of property rights essential to capitalism.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"How we spend our days is, of course, how we spend our lives. " -- Annie Dillard, essayist
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ECU
European Currency Unit
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