Real property rights

There has never been a successful society that was not based on a system of private property rights. The reason is that private property encourages thrift, investment, sustainable management of resources and an incentive to use property effectively. Countries that have protected private property rights have experienced strong economic growth, while those places that experimented with government control (Maoist China, North Korea, Australian aboriginal homelands) remained relatively poor, with shorter lives, worse health, and fewer life opportunities.