Property rights (economics) in the context of "Atlas Shrugged"

Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights.

In economics and political economy, there are three broad forms of property: private property, public property, and collective property (or cooperative property). Property may be jointly owned by more than one party equally or unequally, or according to simple or complex agreements; to distinguish ownership and easement from rent, there is an expectation that each party's will with regard to the property be clearly defined and unconditional.. The parties may expect their wills to be unanimous, or alternatively each may expect their own will to be sufficient when no opportunity for dispute exists.

Since declaring independence in 1821, Mexico has adopted a number of constitutions or other documents of basic law with constitutional effects. Not all these can be considered constitutions, and not all of them enjoyed universal application. Those enacted in 1824, 1857, and 1917 are generally considered full-fledged, operational constitutions. The Constitution of 1824 established the framework of a federated republic, following the short-lived monarchy of Agustín de Iturbide (in 1821–22). The Constitution of 1857 was the framework set by Mexican liberals that incorporated particular laws into the constitution. The Constitution of 1917 was drafted by the faction that won the Mexican Revolution, known as the Constitutionalists for their adherence to the Constitution of 1857. It strengthened the anticlerical framework of the 1857 constitution, empowered the state to expropriate private property, and set protections for organized labor. The 1917 Constitution was significantly revised in 1992 under Carlos Salinas de Gortari, eliminating anticlerical restrictions and strengthening private property rights against the State.

The Confederación Española de Derechas Autónomas (lit. 'Spanish Confederation of Autonomous Rights'; sometimes translated as Spanish Confederation of Autonomous Right-wing Groups; CEDA) was a short-lived, right-wing political party in the Second Spanish Republic. A Catholic conservative force, it was the political heir to Ángel Herrera Oria's Acción Popular and defined itself in terms of the 'affirmation and defence of the principles of Christian civilization'. It translated this theoretical stand into a political demand for the revision of the anti-Catholic passages of the republican constitution. CEDA saw itself as a defensive organisation, formed to protect religious toleration, family, and private property rights. It was heavily involved in the political disputes leading up to the Spanish Civil War, as well as several revolutionary and counter-revolutionary incidents in the mid-1930s.

The CEDA said that it was defending the Catholic Church in Spain and Christian civilization against authoritarian socialism, state atheism, and religious persecution. It would ultimately become the most popular individual party in Spain in the 1936 elections. The party represented the interests of the Catholic voters as well as the rural population of Spain, most prominently the medium and small peasants and landowners. The party sought the restoration of the powerful role of the Catholic Church that existed in Spain before the establishment of the Republic, and based their program solely on Catholic teaching, calling for land redistribution and industrial reform based on the distributist and corporatist ideals of Rerum Novarum and Quadragesimo Anno.

Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism.

Economic liberalism is associated with markets and private ownership of capital assets. Economic liberals tend to oppose government intervention and protectionism in the market economy when it inhibits free trade and competition, but tend to support government intervention where it protects property rights, opens new markets or funds market growth, and resolves market failures. They also tend to oppose cartels, monopolies, financialization of the economy, rent-seeking behaviour and unproductive classes reliant on rent, assets or state-granted privileges. An economy that is managed according to these precepts may be described as a liberal economy or operating under liberal capitalism. Economic liberals commonly adhere to a political and economic philosophy that advocates a restrained fiscal policy and a balanced budget through measures such as low taxes, reduced government spending, and minimized government debt. Free trade, deregulation, tax cuts, privatization, labour market flexibility, and opposition to trade unions are also common positions.

Right-libertarianism, usually referred to as libertarian capitalism by its proponents and right-wing libertarianism by its opponents, is a libertarian political philosophy that supports capitalist property rights and market distribution of natural resources. The term right-libertarianism is used to distinguish this class of views on the nature of property and capital from left-libertarianism, a variant of libertarianism that combines self-ownership with collectivist or usufructary property norms. In contrast to socialist libertarianism, capitalist libertarianism supports free-market capitalism. Like other forms of libertarianism, it supports civil liberties, especially natural law, negative rights, the non-aggression principle, and a significant transformation or outright elimination of the modern welfare state.

Right-libertarian political thought is characterized by the strict priority given to liberty, with the need to maximize the realm of individual freedom and minimize the scope of government authority. Right-libertarians typically see the state as the principal threat to liberty. This anti-statism differs from anarcho-socialist theory (but not individualist anarchist theory) in that it is based upon private property norms and strong individualism that places less emphasis on human sociability or cooperation. Right-libertarian philosophy is also rooted in the ideas of individual rights and laissez-faire economics. The right-libertarian theory of individual rights generally follows the homestead principle and the labor theory of property, stressing self-ownership and that people have an absolute right to the property that their labor produces. Economically, right-libertarians make no distinction between capitalism and free markets; they view any attempt to dictate the market process as counterproductive, emphasizing the mechanisms and self-regulating nature of the market whilst portraying government intervention and attempts to redistribute wealth as criminally immoral, unnecessary, and counter-productive. Although all right-libertarians oppose government intervention, there is a division between anarcho-capitalists, who view the state as an unnecessary evil and want property rights protected without statutory law through market-generated tort, contract and property law; and minarchists, who support the need for a minimal state, often referred to as a night-watchman state, to provide its citizens with monopoly provision of courts, military, and police services.