ABSTRACT
A discussion of the fundamental interrelationship between government and property requires an understanding of how individuals function in society and the basis for their social and economic transactions. This understanding can be provided by the Austrian school of economics, which I will use as the conceptual underpinning of my essay. When viewed from the perspective of the individual decision-maker, acting under conditions of uncertainty and at a particular moment in time, I believe the fundamental role of government as an institution in providing a framework for forming expectations about the consequences of those decisions becomes clear. After a brief overview of Austrian economics, I will show how Austrian economics informs my view of the fundamental relationship between government and property.
