> Each of these changes is beneficial, yet I worry that Americans are, slowly but surely, losing their connection to the idea of private ownership. The nation was based on the notion that property ownership gives individuals a stake in the system. It set Americans apart from feudal peasants, taught us how property rights and incentives operate, and was a kind of training for future entrepreneurship.
Whether you own music or rent it doesn't give you a stake in the system, nor does owning a car vs using public transport.
What gives you a stake is your net worth -- whether in a bank account, investments, land, a house, a company, or several.
And being able to rent services instead of buy permanent goods is an economic gain, allowing you to deploy your savings in a more targeted way toward whatever really matters the most to you.
If we want to be nervous, let's investigate inequality of net worth and the policies that lead to that -- and not be distracted by something totally irrelevant like whether I buy or license my books.