Sustainable development requires property rights from "summary" of Capitalism and Freedom by Milton Friedman
The essential foundation of sustainable development lies in the protection of property rights. Without property rights, individuals lack the necessary incentives to conserve resources for the future. When property rights are not clearly defined and protected, individuals have little reason to invest in the maintenance and improvement of their property. In the absence of property rights, there is no assurance that the benefits of conservation efforts will accrue to those who undertake them. This lack of security undermines the incentive for individuals to engage in ...
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