“What private property does is connect effort to reward,
creating an incentive for people to produce more.
Then, if there's a free market,
people will trade their surpluses to each other for the things they lack.
Mutual exchange for mutual benefit makes the community richer.”

—  John Stossel

Source: The Tragedy of the Commons https://abcnews.go.com/2020/Stossel/story?id=3893247&page=1, ABC News (21 November 2007)

Adopted from Wikiquote. Last update Jan. 3, 2022. History

Help us to complete the source, original and additional information

Do you have more details about the quote "What private property does is connect effort to reward, creating an incentive for people to produce more. Then, if th…" by John Stossel?
John Stossel photo
John Stossel6
American consumer reporter, investigative journalist, autho… 1947

Related quotes

“under reward power, communications are likely to consist of promises and exchanges of information regarding the positive outcomes each side has in store for the other, thus increasing the likelihood of a mutually satisfactory agreement.”

Arie W. Kruglanski (1939) American psychologist

Source: "Conflict and power." 1970, p. 91

“under reward power, communications are likely to consist of promises and exchanges of information regarding the positive outcomes each side has in store for the other, thus increasing the likelihood of a mutually satisfactory agreement.”

Bertram Raven (1926) American psychologist

Source: "Conflict and power." 1970, p. 91

Marcus Tullius Cicero photo

“The rule of friendship means there should be mutual sympathy between them, each supplying what the other lacks and trying to benefit the other, always using friendly and sincere words.”

Marcus Tullius Cicero (-106–-43 BC) Roman philosopher and statesman

Phillip Blond photo

“Without civil intervention the free market tends to monopoly. What we should do is try to restore a truly free market, try to restore a market where there are no barriers to access and people have something other than their labour which they can trade or exchange..”

Phillip Blond (1966) British philosopher

Fryderyk Skarbek photo

“The powers inherent in man are his intelligence and his physical capacity for work. Those which arise from the condition of society consist of the capacity to divide up labour and to distribute different jobs amongst different People … and the power to exchange mutual services and the products which constitute these means. The motive which impels a man to give his services to another is self -interest- he requires a reward for the services rendered. The right of exclusive private property is indispensable to the establishment of exchange amongst men… Exchange and division of labour reciprocally condition each other.”

Fryderyk Skarbek (1792–1866) Polish noble

Fryderyk Skarbek (1828), cited in: Karl Marx. Human Requirements and Division of Labour https://www.marxists.org/archive/marx/works/1844/manuscripts/needs.htm, Manuscript, 1844.

Hu Jintao photo

“We are ready to work with the U. S. side in a spirit of seeking mutual benefit and win-win outcomes to properly address each other's concerns and facilitate the sound and the steady growth of bilateral economic cooperation and trade.”

Hu Jintao (1942) former General Secretary of the Communist Party of China

2000s, White House speech (2006)

Karl Marx photo

“Through the emancipation of private property from the community, the State has become a separate entity, beside and outside civil society; but is it nothing more than the form of organization which the bourgeois necessarily adopt both for internal and external purposes, for the mutual guarantee of their property and interests.”

Karl Marx book The German Ideology

Part One
Source: The German Ideology (1845/46), The Marx-Engels Reader, p. 187

Lupe Fiasco photo

“Consider power as NOT getting people to obey you, but getting people to work in harmony with you with the goal being mutual benefit.”

Lupe Fiasco (1982) rapper

Rules 2 Rule

Kenneth Griffin photo

“The ability to create same day straight through processing of mutual fund trades is a matter of will.”

Kenneth Griffin (1968) American hedge fund manager

&quot;Justice Delayed,&quot; FTSE Global Markets (May/June 2005) http://www.ftse.com/Research_and_Publications/Downloads/GMMayJune05_1.pdf <br class="br">On using technology to end market timing.

Nassim Nicholas Taleb photo

“I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill.”

Nassim Nicholas Taleb (1960) Lebanese-American essayist, scholar, statistician, former trader and risk analyst

Source: The Black Swan: The Impact of the Highly Improbable (2007), p. xxi

Related topics