The Surprising Decline of Personal Ownership Under Modern Capitalism

One of the great features of having an economic system that permits independent enterprise and open trade, is that it allows for the development of personal wealth and ownership. Personal ownership is being self accountable for the development and care of some type of resource. The social benefit of this kind of personal responsibility is significant. Personal ownership teaches accountability, thrift, enterprise and autonomy.

Surprisingly, however, many forms of personal ownership seem to be in decline, which…