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A common pool resource however is often managed the group of people that have access to that resource [14]. Examples of this can be air, water, sights, and sounds. Tragedy of the commons refers to this title. An example would be unregulated forests as there's limited resources available and therefore rivalrous, but anyone may access these ...
If there is a start with joint ownership (where each party has veto power over the use of the asset) and move to a situation in which there is a single owner, the investment incentives of the new owner are improved while the investment incentives of the other parties remain the same; however, in the basic incomplete contracting framework, the ...
Yunker argues that because passive property income requires no mental or physical exertion on the part of the recipient and because its appropriation by a small group of private owners is the source of the vast inequalities in contemporary capitalism, this establishes the ethical case for social ownership and socialist transformation. [26]
Collective ownership is the ownership of private property by all members of a group. [ 1 ] [ 2 ] [ nb 1 ] The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm ).
Some authors [45] distinguish between the resources shared (the common-pool resources), the community who governs it, and commoning, that is, the process of coming together to manage such resources. Commoning thus adds another dimension to the commons, acknowledging the social practices entailed in the process of establishing and governing a ...
The rights to a property may be transferred from one "owner" to another. A transfer tax is a tax on the passing of title to property from one person (or entity) to another. An owner may request that, after death, private property be transferred to family members, through inheritance. In certain cases, ownership may be lost to the public interest.
One disadvantage of communal ownership, known as the Tragedy of the Commons, occurs where unlimited unrestricted and unregulated access to a resource (e.g. pasture land) destroys the resource because of over-exploitation. The benefits of exploitation accrue to individuals immediately, while the costs of policing or enforcing appropriate use ...
There exist many theories of property. One is the relatively rare first possession theory of property, where ownership of something is seen as justified simply by someone seizing something before someone else does. [23] Perhaps one of the most popular is the natural rights definition of property rights as advanced by John Locke. Locke advanced ...