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I feel like they got almost every single part of this wrong, and I like both Becker and Friedman.
My property based wealth is in large part a result of fiat debasement.
My gains in property are greater than the sum total of taxed income.
New Zealand has not ever had a comprehensive capital gains tax on property but I have paid local government taxes on my properties...these fund roads and local infrastructure which ultimately support and enhance the value of all related properties.
You cannot have a thriving capitalist economy without secure property rights and taxation of property is the price us Boomers pay and have paid for decades on our property portfolios.
It is increasingly apparent that the decline of western civilisation makes likely a decline in property prices within its boundaries but it is probably pointless to start blaming naive Libertarians who decry taxation and government for undermining western hegemony, wealth and dominance.
Boomers have played just as much a part in that process- probably more so.
Join the healthcare industry and expropriate to your heart's content
Mmm... this seems to me like another one of those times where the economists try to get a little too cute.
Are fines vs. prison and property vs. income taxes the only examples? Because it seems like the more straightforward explanations are most plausible: that people prefer prison when the perpetrator could be dangerous to others; and that we tend not to have property taxes because property owners are a distinct group with a lot of political power.