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What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves.

Friedrich Hayek#36

Attribution disputed; shown as originally published.

FreedomEconomicsPower

About this quote

What does it mean?
Private property protects freedom for everyone by分散 power among many independent owners.
In plain terms
Owning property spreads control so no one person rules us all.
What can you take from it?
Decentralized ownership safeguards individual liberty.

Where it applies

  • economic policy debates
  • rights discussions

Putting it to work

  • protect property rights
  • decentralize power

Questions to consider

  • How does ownership affect freedom?
  • Who controls production?

Another view

Some argue property concentration can still limit freedom for the poor.

More from Friedrich Hayek

  1. The more the state 'plans' the more difficult planning becomes for the individual.

    Permalink to quote #35
  2. We shall never prevent the abuse of power if we are not prepared to limit power in a way which occasionally may prevent its use for desirable purposes.

    Permalink to quote #37
  3. Where the sole employer is the State, opposition means death by slow starvation.

    Permalink to quote #34

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