FARE 1300 Lecture Notes - Lecture 6: Classical Liberalism, Murray Rothbard, Diminution

• School: University of Guelph
• Department: Food, Agricultural and Resource Economics
• Course: FARE 1300
• Professor: Julio Mendoza

Document Summary

Env policy disputes seems to be about differences in methods, data, assumptions or coefficients. But they are actually about competing views on property rights. The literature is confused! the people involved in the policy process are confused. Env scientists, lawyers, economists have been appealing to at least 5 distinct theories of property rights. Usually, w/o recognition or acknowledgement of competing theories. Every theory of property rights, draws from the theory of human rights. Property rights, and rule of law are imp phrases. At least 5 theories of property rights that compete. This lecture is based on a paper in the canadian journal of agricultural and economics. Go to the u of g library web site. Happens when the government takes your property. typically land, usually to build something for a public purpose , like a highway. The landowner loses the title, but gets compensated. The rule for compensation, is that you get comparable market value, plus a little bit.