By Gregory S. Alexander, Eduardo M. Peñalver
This ebook surveys the prime glossy theories of estate – Lockean, libertarian, utilitarian/law-and-economics, personhood, Kantian and human flourishing – after which applies these theories to concrete contexts within which estate matters were specially debatable. those comprise redistribution, the fitting to exclude, regulatory takings, eminent area and highbrow estate. The ebook highlights the Aristotelian human flourishing concept of estate, delivering the main finished and available creation to that concept thus far. The book's aim is neither to hide each feasible idea nor to debate each attainable aspect of the theories lined. in its place, it goals to make the most important estate theories understandable to newcomers, with no sacrificing accuracy or sophistication. The ebook may be of specific curiosity to scholars looking an obtainable advent to modern theories of estate, yet even experts will enjoy the book's lucid descriptions of latest debates.
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Extra info for An Introduction to Property Theory
See Henry E. Smith, “Exclusion Versus Governance: Two Strategies for Delineating Property Rights,” Journal of Legal Studies 31 (2002): S453, S457 n. 9 ; see also H. Scott Gordon, “The Economic Theory of a Common-Property Resource: The Fishery,” Journal of Political Economy 62 (1954) cited in Robert Dorfman and Nancy S. Dorfman, eds, Economics of the Environment: Selected Readings (1972), 88; R. J. H. Beverton, “Some Observations on the Principles of Fisheries Regulation,” Journal du conseil permanent international pour l’exploration de la mer 19 (1953): 56.
10 The first is the state of nature, which is the stage in which private ownership first develops. The second stage arises with the introduction of money, which facilitates inequality in the possession of property. In the third and final stage, communities form governments, which regulate and formalize property rights. Waldron, Equality, 158–60; James Tully, A Discourse on Property (1980), 62–3; Sreenivasan, Limits of Lockean Rights, 71–3. 9 See Stephen R. Munzer, A Theory of Property (1990), 255.
19 Utilitarian Property Theories 17 the fact that, even if one fully accepts the moral intuitions behind utilitarian analysis in the domain of social choice, the value of any particular utilitarian prescription will only be as good as the empirical information on which it is based. As we will see, that informational challenge will greatly complicate the predictions and prescriptions of utilitarian property theory. Utilitarianism within Property Theory The utilitarian theory of property, in its most basic form, asserts that property institutions should be shaped so as to maximize net utility.