Property rights are the most fundamental institution in any society. They determine who has decision-making authority over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence, and social standing. They make markets possible; define...

"The United States has led other nations in creating a legal, economic, social, and political ecosystem that has proven extraordinarily effective at fostering entrepreneurship. Evidence of this country's status as a powerful launchpad for entrepreneurship runs throughout its history. It is not a...