Cooperation can be achieved in a variety of ways. The two that Rizzo outline include succeeding in a common goal by working together, or achieving different ends by cooperating through trade. This reminded me of my collaboration to survive my environmental homework. My engineering friend was happy to help me on the technical problems of our assignment after I shared some of my research for an analytical problem. We checked each other's work and both benefitted by receiving a higher grade.
Rizzo's notes also emphasized the fact that property is grounded in natural rights that relies on justice. Without that confidence in ownership, innovation and the economy would suffer. I think it's interesting he repeated that point because it is true, we are a society obsessed with justice. Media covers big trials, Americans have several crime television shows (Law & Order, Criminal Minds etc) and every American is entitled to a fair and speedy trial. Fairness plays a large role in trade and is protected by laws. It is interesting that in class, we hear that "freedom" is so key to an effective market, yet there must be some regulation to ensure confidence of investors and entrepreneurs.
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