Madeleine Flannagan argues that submerging propery rights under land use regulation creates disaster like submerging water with oil
It is not commonly recognised how seriously land use legislation such as the Resource Management Act has impaired property rights. The common law tradition esteems property rights much more highly and strongly than is recognised today.
Although economics is required to analyse how private property rights and tort law better address the complex issues related to conflicts of natural resource use, it is very helpful to recognise the quality and strength of legal rules developed and instituted at common law, under the influence of natural law theory, to protect property rights.
My friend Madeleine Flannagan has posted a 2 part series that addresses these issues directly and forcefully, and I highly recommend these posts to my readers.
A Lecture in Texas on Economics and Entrepreneurship - |Peter Boettke| Israel Kirzner made the trip to Lubbock, Texas last week and gave this public talk on "Economics and Entrepreneurship". Ben Powell continues ...
5 days ago