Property is the thing which is valued, or protected, and forms the basis of all actions and judgements, whether they are moral, theological, economic or political.
A society gets together and co-creates property, in the form of wealth, rights, possessions and instruments of value.
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Norm judgements are limited to actions. We decide if some activity or thing is allowed, permissible, prohibited, or otherwise acceptable.
This can be applied before an action is taken. It often invokes abstract ideas of virtue and value.
Capitalization was key to the rise of economic indicators. Upper-class Americans began to put their wealth into new financial assets. They began to see their society as a capitalized investment and the people as capital that could be used to increase wealth.
In the North, ...
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