Economics Dictionary of ArgumentsHome
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| Property: Property is anything that is owned by a person or entity. It can be tangible, or intangible. Property rights give the owner the right to use, possess, and dispose of their property as they see fit. See also Rights, Duties, Contracts._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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James M. Buchanan on Property - Dictionary of Arguments
Boudreaux I 47 Property/Buchanan/Boudreaux/Holcombe: (...) if there is no clear definition of property rights in the air, then [a] factory will be reluctant to negotiate with the town council. It will likely simply continue to pollute without the town being compensated to bear the cost of the pollution. >Externalities/Buchanan. Clearly defined property rights thus promote bargaining to mutual advantage - that is, toward greater efficiency of resource use - while the absence of such rights stymies such bargaining. Buchanan/Tullock: In The Calculus of Consent, Buchanan and Tullock say „If property rights are carefully defined, should not the pure laissez-faire organization bring about the elimination of all significant externalities? … After human and property right are initially defined, will externalities that are serious enough to warrant removing really be present? Or will voluntary co-operative arrangements among individuals emerge to insure the elimination of all relevant external effects?“ (Buchanan and Tullock, 1962/1999(1): 44) 1. Buchanan, James M., and Gordon Tullock (1962/1999). The Calculus of Consent. Liberty Fund._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconBuchan I James M. Buchanan Politics as Public Choice Carmel, IN 2000 Boudreaux I Donald J. Boudreaux Randall G. Holcombe The Essential James Buchanan Vancouver: The Fraser Institute 2021 Boudreaux II Donald J. Boudreaux The Essential Hayek Vancouver: Fraser Institute 2014 |
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