Wednesday, February 08, 2006

Protecting Property Rights is the Ethical Thing to do!

In the real world everything is in disequilibrium tending towards equilibrium. In the real world there is uncertainty because the future is unknown and there is limited knowledge because we are not all-knowing. Mixed together in this state of affairs is the time element and the subjective nature of human actions.

The ethics of futurity, a law of justice that needs to be in place to honor entrepreneurial service, stimulates actions that ameliorate the conditions of uncertainty in the economy. The ethics of finder's keepers, another law of justice that needs to be elucidated and upheld, facilitates discovery which lessens the impact of and narrows the margin between what is known and what is unknown.

Because these creative acts of the entrepreneur originate within and can be directly attributed to the entrepreneur they constitute part of his/her property rights. Protecting these property rights is the ethical thing to do!

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