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Armen Alchian

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The fundamental purpose of property rights, and their fundamental accomplishment, is that they eliminate destructive competition for control of economic resources. Well-​defined and well-​protected property rights replace competition by violence with competition by peaceful means.

Armen Alchian, “Property Rights,” The Concise Encyclopedia of Economics

See a recent article on Alchian by Peter J. Boettke, “Why Did Armen Alchian Have to Teach Economists About Property Rights?

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