Reading H.G. Wells’s War of the Worlds, I was struck by this passage: “That day [Martians were attacking, etc.] the scattered multitudes began to realise the urgent need of provisions. As they grew hungry the rights of property ceased to be regarded. Farmers were out to defend their cattle-sheds, granaries, and ripening root crops with arms in their hands.” This passage is strangely similar to the scenes of looting in New Orleans (and the astonishing display of government-approved looting in the form of spending legislation). We know that a lack of property rights perpetuates poverty, but I wonder if it is generally true the poverty (or at least the expectation of future deprivation in material provision) weakens property rights or hinders the development of institutions that secure them.
How to break the cycle? Mises might say ideology. Rothbard might say moral convictions against theft. Hayek might say an evolved tradition growing from success and failure. And yet, as Higgs might point out, all bets are off in a crisis such as a Martian invasion or a flood. This is the day the looters wait for.
