Video: Giving Thanks for Private Property
The Pilgrims nearly starved thanks to collectivism. Fortunately, they soon changed.
Did you know that the pilgrims almost starved after they arrived at Plymouth Rock? That’s because they were forced to farm “collectively.” The corporation that funded the expedition said, “grow food together. Divide the harvest equally.”
This is a terrible idea. It creates what economists call the “tragedy of the commons.” When you share property and the results of your work, people farm until the land is barren, don’t work as hard, or steal food from others.
John Stossel takes a look at the benefits of the free market ahead of Thanksgiving.