Property: Difference between revisions
Created page with "{{stub}} A property is a scarce resource. ==Creation of property== It is often assumed that property is created whenever labor yields a result, tangible or inta..." |
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It is often assumed that property is created whenever [[labor]] yields a result, tangible or intangible. A possible reason why this assumption is made is because an important distinction is ignored: the distinction between the ''creation of'' property and the method of determining who owns what is ''already considered to be'' property. Most libertarians would argue that the first one to "mix their labor" with a property indeed is its rightful owner, but this says nothing about how property is created, only how it is acquired. | It is often assumed that property is created whenever [[labor]] yields a result, tangible or intangible. A possible reason why this assumption is made is because an important distinction is ignored: the distinction between the ''creation of'' property and the method of determining who owns what is ''already considered to be'' property. Most libertarians would argue that the first one to "mix their labor" with a property indeed is its rightful owner, but this says nothing about how property is created, only how it is acquired. | ||
"Why are tangible goods property? A little reflection will show that it is these goods’ scarcity—the fact that there can be conflict over these goods by multiple human actors. The very possibility of conflict over a resource renders it scarce, giving rise to the need for ethical rules to govern its use. Thus, the fundamental social and ethical function of property rights is to prevent interpersonal conflict over scarce resources."<ref name="Stephan Kinsella">[[Stephan Kinsella]], | "Why are tangible goods property? A little reflection will show that it is these goods’ scarcity—the fact that there can be conflict over these goods by multiple human actors. The very possibility of conflict over a resource renders it scarce, giving rise to the need for ethical rules to govern its use. Thus, the fundamental social and ethical function of property rights is to prevent interpersonal conflict over scarce resources."<ref name="Stephan Kinsella">[[Stephan Kinsella]], ''[[Against Intellectual Property]]''.</ref> | ||
==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
[[Category:Economic concepts]] | |||
Revision as of 22:22, 15 November 2010
A property is a scarce resource.
Creation of property
It is often assumed that property is created whenever labor yields a result, tangible or intangible. A possible reason why this assumption is made is because an important distinction is ignored: the distinction between the creation of property and the method of determining who owns what is already considered to be property. Most libertarians would argue that the first one to "mix their labor" with a property indeed is its rightful owner, but this says nothing about how property is created, only how it is acquired.
"Why are tangible goods property? A little reflection will show that it is these goods’ scarcity—the fact that there can be conflict over these goods by multiple human actors. The very possibility of conflict over a resource renders it scarce, giving rise to the need for ethical rules to govern its use. Thus, the fundamental social and ethical function of property rights is to prevent interpersonal conflict over scarce resources."[1]