To those who penned the Magna Carta in England, as well as to the American founding fathers who drafted the Declaration of Independence and the Constitution, protection of private property was of utmost importance. Today, however, property rights are threatened by a variety of state, national, and international forces.

This Hoover Classic seeks to explain the crucial connection among secure property rights, freedom, and prosperity. Drawing on the thoughts of various philosophers, political thinkers, economists, and lawyers, Property Rights presents a blueprint for the nonexpert on how societies can encourage or discourage freedom and prosperity through their property rights institutions. The authors detail step-by-step what property rights are, what they do, how they evolve, how they can be protected, and how they promote freedom and prosperity.

Terry L. Anderson is the John and Jean DeNault Senior Fellow at the Hoover Institution and the executive director of the Property and Environment Research Center (PERC).

Laura E. Huggins is a research fellow at the Hoover Institution.

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