The Comedy of the Commons: Custom, Commerce, and Inherently Public Property

By C. M. Rose. Property and Persuasion, 2019

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The right to exclude others has often been cited as the most important characteristic of private property.' This right, it is said, makes private property fruitful by enabling owners to capture the full value of their individual investments, thus encouraging everyone to put time and labor into the development of resources. 2 Moreover, exclusive control makes it possible for owners to identify other owners, and for all to exchange the fruits of their labors, until these things arrive in the hands of those who value them

Subfields: Law

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