Thursday, August 18, 2005

Property Rights

I believe that the institution of private property--and the vigorous protection of economic liberties and property rights--are what make men and women truly free. No liberty is safe in a society in which government controls property, because in such a society your ability to pursue happiness, support a family, work, have a home, and even worship God often depends upon the grace of those who from time to time hold the reins of political power. How much political freedom do you have in a society in which "getting ahead" economically depends upon your towing the party line of those who wield political power?

On the other hand, Professor Ely once said that "an absolute right of property...would result in the dissolution of society." What do you think Prof. Ely means? What kinds of social restraints on private property rights are acceptable in a free society? Which do you think is more important in a free society--economic autonomy or sexual autonomy? Why?

In this course, we will focus on the acquisition of property rights and on the "sticks" in the bundle of private property rights--possession, use, development, control, and transfer. We will also focus on the "public law" of private property: the constitutional protection of private property under the Takings Clause of the U.S. Constitution, as well as a number of federal civil rights laws protecting certain property rights from being abridged. I hope you enjoy the class!

By the way, what is property?