By John F. Henry
Levy Economics Institute
On January 6, 1941, President Franklin Delano Roosevelt delivered his State of the Union Address to Congress. It was a perilous stage in world history, and Roosevelt used his annual address to urge U.S. entry into the war then raging. Against the isolationists in Congress (and in the general population), Roosevelt contended that the main objective of U.S. entry was to fight for the universal freedoms that all peoples of the world should possess. These “four freedoms” were freedom of speech, freedom of worship, freedom from want, and freedom from fear. It is the third freedom—freedom from want—with which we are here concerned.
John Locke is the “father” of property rights theory, and continues to be referenced in defense of private property. In the second volume of his Two Treatises of Government, Locke specified the conditions that must be satisfied in order for property to be deemed legitimate. Initially, any property taken from “the commons” (public or collective property) had to be based on one’s labor that was expended to improve that property. (While Locke focused on landed property, his argument applies more generally.)
