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Unformatted text preview: government. And, we have specific “property rights” associated with these resources. Individuals pursue their own self interest with few constraints means that we can use the factors of production in a way that we as individuals choose to use them in order to make a living subject to few legal barriers. This would be in contrast to the extensive system of federal and state laws, rules, and regulations that we currently confront in our economy with respect to the factors of production that we own....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10