Presentation is loading. Please wait.

Presentation is loading. Please wait.

Functional Property, Real Justice David Schmidtz.

Similar presentations


Presentation on theme: "Functional Property, Real Justice David Schmidtz."— Presentation transcript:

1 Functional Property, Real Justice David Schmidtz

2 Mere Liberty: no duty to refrain from using

3 Correlative Duty: not to use without permission

4 Mere Liberty: no duty to refrain from using Correlative Duty: not to use without permission Full-blooded Right: liberty to use + liberty to forbid use by others See Wesley Hohfeld

5 3 Ways of Giving Property Rights Their Due See Calabresi & Melamed

6 3 Ways of Giving Property Rights Their Due PROPERTY Rule: others can’t use without consent See Calabresi & Melamed

7 3 Ways of Giving Property Rights Their Due PROPERTY Rule: others can’t use without consent LIABILITY Rule: other can’t use without compensation See Calabresi & Melamed

8 3 Ways of Giving Property Rights Their Due PROPERTY Rule: others can’t use without consent LIABILITY Rule: other can’t use without compensation INALIENABILITY Rule: can’t use at all (or at least can’t sell See Calabresi & Melamed

9

10 Traffic Management Commercial Traffic Production for profit is production for use.

11 William Blackstone called property the “sole and despotic dominion which one man claims and exercises over the external things of the world, in total exclusion of the right of any other individual in the universe.”

12 But rights in Anglo-American law have always been hedged with restrictions: Easements Covenants Nuisance laws Zoning laws Regulatory statutes Custom

13

14 ad coelem

15 What does the right to say no entail?

16 What does it need to entail?

17 Justice: the Wrong Way

18

19 Justice: the Right Way

20 When a System of Property is Working :

21 It puts people in position to produce.

22 When a System of Property is Working: It puts people in position to produce. It puts producers in position to trade.

23 When a System of Property is Working: It puts people in position to produce. It puts producers in position to trade. It fosters creative destruction.

24 When a System of Property is Working: It puts people in position to produce. It puts producers in position to trade. It fosters creative destruction. It limits externalities.

25 When a System of Property is Working: It puts people in position to produce. It puts producers in position to trade. It fosters creative destruction. It limits externalities. It minimizes transaction cost.

26 When a System of Property is Working: It puts people in position to produce. It puts producers in position to trade. It fosters creative destruction. It limits externalities. It minimizes transaction cost. It lets people grow their businesses.


Download ppt "Functional Property, Real Justice David Schmidtz."

Similar presentations


Ads by Google