An Introduction to Property Theory by Gregory S. Alexander, Eduardo M. Peñalver

By Gregory S. Alexander, Eduardo M. Peñalver

This ebook surveys the top sleek 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 arguable. those comprise redistribution, the correct to exclude, regulatory takings, eminent area and highbrow estate. The ebook highlights the Aristotelian human flourishing concept of estate, offering the main accomplished and available advent to that concept thus far. The book's target is neither to hide each plausible idea nor to debate each attainable side of the theories coated. in its place, it goals to make the main estate theories understandable to novices, with no sacrificing accuracy or sophistication. The publication could 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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Scott Gordon outlined the problem for fisheries but went on to generalize about other open access resources.  to be some truth in the conservative dictum that everybody’s property is nobody’s property. ”31 Despite these earlier discussions, Hardin’s article became the classic statement of the problem, probably because of its memorable title and because it presented the issue in a uniquely clear and accessible manner. Hardin described the tragedy as follows: Picture a pasture open to all.  . As a rational being, each herdsman seeks to maximize his gain.

27 (1999): 254, 254–9. 64 65 32 An Introduction to Property Theory of concern in the Kaldor-Hicks standard of social choice, but the Pareto criterion only honors individuals to the extent that their actual preferences match those of the idealized model of human well-being that is used. We will revisit the difficulties that utilitarianism confronts when individual interests are at stake in our discussions of redistribution in Chapter 6 and of eminent domain in Chapter 8. The Incompleteness of Utility The standard utilitarian and welfarist models of human well-being also have some shortcomings.

15 (2003): 209, 228–33. 69 See, for example, Kaplow and Shavell, Fairness versus Welfare, 3–4 (arguing that welfare is the only value that ought to matter in public decision making). 68 34 An Introduction to Property Theory ways to put the valuable insights of utilitarianism to use while restricting the reach of those insights to their proper scope. Meeting this challenge suggests the need to resort to a broader moral framework. As we will argue in Chapter 5, a theory of owner obligation rooted in the Aristotelian tradition provides one such inclusive vision.

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