“The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.”

Friedrich August von Hayek

How important is private property?

Alexander walked down 7th Avenue for several minutes. The sheer number of people walking down the street was astounding. Many of them held small rectangular devices in their hands. Many of them also had strange ear coverings. Alexander continued to walk and soon found himself in Times Square. The flashing billboards and millions of illuminated pixels were dizzying.

Truly this was a remarkable civilization. The magnitude of their grandeur was unprecedented. Alexander could tell that this square was a shrine. As he had traveled to see the Oracle at Delphi so too had many thousands of people travel to this site. Was there something holy about it? What insights could be gathered from this glittering acropolis?

Amidst the jarring sounds of what must have been music Alexander gravitated towards a crowd that appeared to be watching something. As he drew closer he noticed a performer. Alexander watched the gyrations of the man’s body as the crowd cheered. Alexander was witnessing his first break dancing performance. He watched as the performer skipped around the rectangle formed by the crowd collecting money. Once he had secured the amount he was looking for he continued to perform. Alexander watched dispassionately as the performer spun on his head and then back before jumping onto his feet and concluding ...