But there is one thing I hope all my students remember forever—the role of prices and private property. In particular, I want them to remember how these mechanisms are vital for a free and prosperous society. I make it clear to them that I think this material is of the utmost importance. In fact, prior to beginning our discussion of prices, I tell them I will be thrilled if the price system is one thing they remember from the class fifteen years from now.
Prices and private property rights are fundamentally important. Failure to grasp how these forces work leads to positively detrimental outcomes.
-Abigal Hall Blanco, Assistant Professor of Economics at the University of Tampa
(H/T: Cafe Hayek)
