Property rights are some of the fundamental building blocks of a capitalist society. From land, physical property, and intellectual property ownership, property rights infers that owners have control over their property and enjoy the benefits as well as be responsible for the liabilities.
The incentive is there then for the owners to look after their property both in protecting it and improving it.
The tragedy of the commons argument.
Since we are not hermits and we all choose to live in a community with other property owners, there arise a community right issue that needs to be balanced against the individual property rights.
Most municipalities have by-laws now requiring property owners to ask for permission before cutting trees over a certain size in their own property. It seems an invasion on individual property rights but the argument can be made that actions in individual property can affect the overall attractiveness and the value of the community.
Just what should be the criteria in setting the compromise between property and community rights? Is it tyranny of the majority over the minority? or the rotten apple that is ruining the whole bushel?
Should we have more or less rules?
No comments:
Post a Comment