Seven sources of economic progress

 Private ownership: people work diligently and efficiently use resources where property is privately
 People work more willingly and diligently, they produce whatlater they own ... There is no doubt that whenpeople take up paid work, the driving force and the main motiveits solution is the possibility of obtaining the ownership of anyproperty and the subsequent disposition.Pope Leo XIII (1878)
 Private property includes: a) the right to exclusive useproperty, and b) the right to transfer property, and c) the protection of the law.Private property can be tangible assets such as buildings, machinery,land, natural resources and labor, and ideas. The right of private ownershipallows people to decide how they use their property. Butsame law requires them to answer for their actions. "Persons who use their property for the attack on property rightsothers are subject to the same legislation thatinstalled to protect their property. For example, the right to privateproperty forbids me to throw my hammer at the screen belong to youcomputer because it will infringe on your property.It keeps me from trying to dispose of your computer withoutpermission. Similarly my ownership of the hammer and other thingsdoes not allow you or anyone else had to use them without mypermission.Private property creates incentives that promoteeconomic progress. In proof of this can lead fourmain arguments.First, private ownership encourages stewardship of the property.If private owners can not properly support theirproperty or allow her bad treatment, they will be punisheddecrease in its value. For example, owning a car, you are interested into change the oil, regular maintenance andInterior cleaning machine. Why? Because if not taken care of it,value machine for you, and for its potential owners willdecline. Conversely, if the machine is carefully contained and isworking condition, its value will be higher in your eyes, and in theeyes of those who would want to buy it later. Under privateproperty is encouraged sensible management.