Download Property Rights: A Practical Guide to Freedom and Prosperity by Terry L. Anderson PDF

By Terry L. Anderson

Drawing at the strategies of assorted philosophers, political thinkers, economists, and attorneys, Terry Anderson and Laura Huggins current a blueprint for the nonexpert-expert on how societies can inspire or discourage freedom and prosperity via their estate rights associations. This Hoover vintage variation of Property Rightsdetails step by step what estate rights are, what they do, how they evolve, how they are often safe, and the way they advertise freedom and prosperity.

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Extra info for Property Rights: A Practical Guide to Freedom and Prosperity (Hoover Institution Press Publication)

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The Arctic National Wildlife Refuge (ANWR)—one of the largest areas in America’s wildlife refuge system—provides another example of the problems of political allocation. The ANWR is a region rich in fauna, flora, and oil potential, where development has been debated for more than forty years. Development proponents argue that ANWR oil would help supply America’s energy demands and could be done without meaningful harm to the environment. Opponents counter that the ANWR’s flora and fauna are more valuable than its oil and therefore any oil found would not provide lasting energy security.

In other words, if the returns from restricting entry exceed the costs, individuals and groups will invest in defining and enforcing property rights. Exactly how people go about establishing property rights can vary widely depending on the costs and benefits of definition and enforcement. Individuals may rely on social norms that limit behavior—they may post signs, build fences, go to court, or call the police. If the value of the property is low, it might not be worth building a fence, but it might be worth posting a “No Trespassing” sign.

The city of Riviera Beach, Florida, has used its eminent domain power to force 5,000 residents from residential property in order to develop commercial and industrial sites. An example with a brighter ending comes from Lancaster, California. The Lancaster city council voted to condemn space in a shopping center occupied by a 99 Cents Only store to make room for the expansion of a Costco store. Costco Wholesale Corporation had operated in the mall for a decade before 99 Cents Only opened shop in 1998.

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