What Are the Four Basic Rights of Capitalism?
The four basic rights of capitalism include: the right to private property, the right to own a business and keep its profits, the right to freedom of choice and the right to freedom of competition. Freedom of competition allows businesses to compete by offering new products at competitive prices.
The most fundamental right is the right to own private property. This means people can freely buy and sell property amongst themselves, as well as pass it on to future generations. The right to own a business and its profits enables a free-market economy to develop. And, freedom of choice means people can choose what they do with their lives.