The Meaning of Property
The Meaning of Property
Property rights are presented in a constitutional perspective. Property rights are constitutional rights. They grant prerogative which are protected both by the State and against the State. Contrary to what most economists think, possession plays a secondary role in the notion of property. Property is a right of decision and rule-making as a matter of principle towards the object of property. Laws affecting the use of property are only limited derogations to this principle. This view is congruent with the theory of ownership developed by Oliver Hart and applies in both Civil and Common Law legal systems. Understanding property in this fashion is a key to the understanding of the operation of the existing Power System.
Keywords: Property rights, Possession, Oliver Hart, Constitutional right
Policy Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.
