chapter
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PART IV THE CONSTITUTION OF THE PRIVATE ECONOMY

That the institution of private property is most intimately interwoven with all the implications of the individual economy, may be demonstrated with the utmost brevity. Only such goods are made private property, as have entered into the economic quantitative relation. Who would ever dream of asserting rights of private property in goods abundantly free to everyone; goods from the enjoyment of which he could exclude no one, which no one could dispute to him? The rationale of private property is the rationale of all economy. Being forced to husband the utility of economic goods, we feel compelled to vindicate their possession in the face of all other claimants; the question of Mine and Thine becomes vital; the right of property which we set up, is to confer legal security with respect to economic use. By this chain of reasoning, the theory of utility explains not only the actual progress of the economy, but leads moreover to the demonstration of its legal basis.