Property rights are crucial for economic growth from "summary" of Economic Analysis of Law by Richard A. Posner
Property rights play a fundamental role in the functioning of a market economy. They provide individuals with the incentives necessary to engage in productive activities, invest in resources, and innovate. Without well-defined and protected property rights, individuals would have little motivation to engage in economic activities that require significant time, effort, and resources. In the absence of property rights, individuals would not be able to secure the benefits of their labor and investments. This lack of security would discourage individuals from engaging in economic activities that could potentially generate wealth and contribute to overall economic growth. Property rights help individuals to secure the fruits of their labor and investments, providing them with the confidence to engage in economic activities that have the potential to generate wealth...
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