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S4 - Ownership. Choice. Personal Accounts.
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SS 300: The Theory of Ownership

While the origin of ownership and what it entails has been debated by philosophers for centuries, there are certain intuitions about ownership that are common to almost all people.

First, it is generally accepted that one has a right to self-ownership. Without this right, one would be unfree to make decisions or participate in society. The right to control one’s future and retirement are the types of decisions that are critical to self-ownership. Put another way, since it is your future life, it should be guided by your choices. Anything less would strip away your ownership of your future.

Second, a logical consequence of self-ownership is that one also owns the things one produces. The things one produces are like tangents to the self; by extension, those things become part of the package a person has an ownership claim to. Moreover, without an ownership claim to these items, one does not have a stake in the productivity of society or one’s role in it. This makes guaranteeing ownership rights to what a person produces beneficial to society. Since what one produces is his or her income, that means he or she owns it. Indeed, because you own your hard earned money, it should not be taken from you. You should have the final say where your money goes.

Personal retirement accounts take the theory of ownership seriously. PRAs are built around the idea that you own your future, and that is why these accounts put your retirement savings back under your control. PRAs also protect your rights to the income you own, and that is why these accounts can be invested according to your wishes and passed along to your heirs.

    The Basics
SS 101: An Issue for Young Americans
SS 102: The Financial Crisis
SS 103: The Solution through Personal Retirement Accounts
Core Classes
SS 200: SS and Young People
SS 210: SS and Minorities
SS 220: SS and Women
SS 230: SS and Low-Income Earners
SS 240: Personal Accounts and Disability Insurance
Junior Electives
SS 300: The Theory of Ownership
SS 310: The Theory of Choice
SS 350: The Theory of Social Insurance
Do the Math
The PRA Calculator
Resources and Footnotes
Frequently Asked Questions
Suggested Reading
Recommended Links


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