Even if private property works hardship to individuals in many cases, yet it may be justified if, on the whole, it is best for the progress of society.

Laws must be judged by their average working, not by exceptional cases.

In general, the system of private property must be judged by this test: Does it further the welfare of the nation better than would any alternative plan for the control of economic wealth?
The question is not whether it is faultless, for no human institution is so.

Nor must it be assumed that the rule of property needs to be uniform in respect to all kinds of wealth.

There are many kinds of property, and the test may be applied separately to the different forms and to the varying degrees of property rights.