Distributing property to individuals is what gets that growth though, rather than property rights. Property rights are meaningless when only a couple people own most property.
Growth has stagnated because we've stopped taking land away from its owners to give it to new upstarts, and strong unions which redistributed power and thus wealth back to labour have been neutered by the rich.
A simple counter example: despite having very low taxes, Ireland is not an economic powerhouse; just a hideaway for money. Same thing with Delaware
No, if mandated redistribution was what got growth, countries with more redistribution would have more rapid growth. The opposite is the case.
It is the profit-motivated investment that emerges when people are secure in their right to their private property that expands capital, and with it per capita productivity.
Increases in per capita productivity result in decreases in consumer prices, which translates to broad-based real wage increases as purchasing power increases. Through its effect on consumer prices, productivity growth distributes wealth more effectively than any other mechanism.
>>A simple counter example: despite having very low taxes, Ireland is not an economic powerhouse; just a hideaway for money.
Ireland was one of the poorest countries in Western Europe 40 years and has massively closed the gap with its peers since then.
Growth has stagnated because we've stopped taking land away from its owners to give it to new upstarts, and strong unions which redistributed power and thus wealth back to labour have been neutered by the rich.
A simple counter example: despite having very low taxes, Ireland is not an economic powerhouse; just a hideaway for money. Same thing with Delaware