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[54] Wurundjeri, Yorta Yorta and Taungurung man Andrew Peters expressed the view that "using the phrase ‘traditional owners’ indicates an Indigenous definition of ownership that has never involved monetary payments, title, or exclusive rights, but rather the recognition of thousands of years of respect, rights and responsibilities shared ...
Property rights are constructs in economics for determining how a resource or economic good is used and owned, [1] which have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights.
And for unknown traditional owners: [25] I acknowledge the Traditional Owners of the land [or country] on which we are meeting. I pay my respects to their Elders, past and present, and the Elders from other communities who may be here today. The City of Adelaide's wording is (specifically tailored for the local Kaurna people): [14]
Indigenous economics is a field of economic study that explores the economic systems, practices, theories, and philosophies unique to indigenous peoples. [1] This approach to economics examines how such groups understand, interact with, and manage resources within their specific cultural contexts. [ 2 ]
National Native Title Tribunal definition: [3] [Native title is] the communal, group or individual rights and interests of Aboriginal people and Torres Strait Islander people in relation to land and waters, possessed under traditional law and custom, by which those people have a connection with an area which is recognised under Australian law (s 223 NTA).
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
In classical economics rent was the return to an "owner" of land. In later economic theory this term is expanded as economic rent to include other forms of unearned income typically realized from barriers to entry. Land ownership is considered to be a barrier to entry because land owners make no contribution to the production process.
Community-based economics or community economics is an economic system that encourages local substitution. It is similar to the lifeways of those practicing voluntary simplicity, including traditional Mennonite, Amish, and modern eco-village communities. It is also a subject in urban economics, related to moral purchasing and local purchasing. [1]