3 ms·
Also individual property rights have not been the norm for most of human history, and in much of the world they still aren't. Obtaining mining rights to land in
by hacknat 10y ago
Also individual property rights have not been the norm for most of human history, and in much of the world they still aren't. Obtaining mining rights to land in Papua New Guinea is incredibly difficult because the state recognizes historic communal land ownership rights. One member of a tribe can veto mining rights.
The possibilities for wealth creation are enormous when you enforce individual property rights strictly, but it comes at the cost of a more egalitarian society.
- mseebach 10y ago> Also individual property rights have not been the norm for most of human history, and in much of the world they still aren't And those places can be easily recognised by their widespread abject poverty. Papua New Guinea has a GDP per capita of $2k, Australia $42k. PNG has a 40% poverty rate and it's ranked as one of the worst places for violence against women. Life expectancy is 62, a full 20 years behind Australia. But, hey, they're more egalitarian, so that's great.
- twoquestions 10y agoI don't think hacknat disagrees with you, and I certainly don't. What I read is that what we call "property rights" is a fairly new idea, and we shouldn't treat it as "natural" or as a fundamental law of the universe as some do. For the record, I'm in full agreement that excessive restriction on property and capital has costs. Creating and maintaining the idea of "private property" has costs too.