Yes one of them is the subject. One of them modifies the other. Try to think whether “property rights” mean:
- property of rights, or
- rights of property
So is “property rights” a type of property, a thing you own, or a type of right, a thing or act you’re entitled to. If you can figure out what “property rights” means, can you figure out which is the subject?
You can think about “Hank Rearden” as one thing, one node in the tree.
Were you uncertain because “Hank Rearden” is two words?