Tuesday, September 13, 2011
Econ Journal Watch has published an online symposium featuring a number of short pieces by leading scholars debating the "bundle of rights" characterization of property, which has been critiqued over the past few years. Titled Property: A Bundle of Rights, 8 Econ Journal Watch 193 (2011), the symposium was organized by George Mason economist Daniel B. Klein and PhD student John Robinson. The abstract to their Prologue:
This piece is the Prologue to an Econ Journal Watch symposium entitled, Property: A Bundle of Rights? This Prologue was written to prompt the invited scholars to expound their own criticisms of the bundle-of-rights view, or, as the case may be, to address criticisms out there. The Prologue is written from a staunch yet pragmatic classical liberal perspective. It frames a number of issues, provides a series of quotations, and asks a number of questions intended to prompt the symposium participants. The symposium participants include leading critics of the bundle formulation James E. Penner, Thomas W. Merrill, and Henry E. Smith; younger critics Larissa Katz, Eric R. Claeys, and Adam Mossoff; eminent defenders of the bundle formulation Stephen R. Munzer and Richard A. Epstein; and the renowned property scholar Robert C. Ellickson, who takes a middle position.
The articles are all posted online and should make fascinating reading for all teachers of the subject and anyone interested in property theory.