Section 2Sec./Art. 2

Declaration of Policy. - It is the declared policy of the State to recognize the primary role of the private sector as an engine of economic growth and to guarantee the right of individuals and private entities to own, establish, and operate economic enterprises. The Constitution provides that the use of property bears a social function where all economic agents shall contribute to the common good. The right of private entities is therefore subject to the duty of the State to intervene when the common good so requires, including the duty to regulate the acquisition, ownership, use, and disposition of private property through the prohibition of monopolies and combinations in restraint of trade or unfair competition.