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6
Property Rights Approach
1. Property rights defined by the government (legal positivism)
2. Property rights are not absolute (relative)
-some rights in bundle conflict w/ others
-property rights of one person impinge on, and inference w/ property and personal rights of others→ absolute property rights self-defeating
3. Property rights can be divided
-the same person can own land and another leases same land
4. Property rights evolve as law changes
-as changing economic, technological, and social conditions gradually reshape the law
2. Property rights are not absolute (relative)
-some rights in bundle conflict w/ others
-property rights of one person impinge on, and inference w/ property and personal rights of others→ absolute property rights self-defeating
3. Property rights can be divided
-the same person can own land and another leases same land
4. Property rights evolve as law changes
-as changing economic, technological, and social conditions gradually reshape the law
