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As of 2020, the federal government owns roughly 640 million acres of land, the majority of which is concentrated in the Western US and Alaska. [1] Privatization of public land involves the selling or auctioning of public lands to the private sector. The private sector can refer to private individuals, industry, or corporations. [citation needed]
The Economist also stated that an increasingly profitable corporate financial and banking sector caused Gini coefficients to rise in the U.S. since 1980: "Financial services' share of GDP in America, doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing ...
The former is defined as the means of production about private ownership over an economic enterprise based on socialized production and wage labor whereas the latter is defined as consumer goods or goods produced by an individual. [17] [18] Prior to the 18th century, private property usually referred to land ownership.
D.K. Boyd. Land area: 261,937 acres Roughly equal to: San Antonio, Texas Rancher and oilman D.K. Boyd owns over a quarter million acres of American land, including ranches in the Texas Panhandle ...
However, new types of land ownership is generally disallowed, under the numerus clausus principle, unless they are introduced by legislation. [13] In most states, full ownership of land is known as fee simple, fee simple absolute, or fee. [14] Fee simple refers to a present interest in the land, which continues indefinitely into the future. [14]
Ownership is the basis for many other concepts that form the foundations of ancient and modern societies such as money, trade, debt, bankruptcy, the criminality of theft, and private vs. public property. Ownership is the key building block in the development of the capitalist socio-economic system. [1]
The Modern Corporation and Private Property is a book written by Adolf Berle and Gardiner Means published in 1932 regarding the foundations of United States corporate law.It explores the evolution of big business through a legal and economic lens, and argues that in the modern world those who legally have ownership over companies have been separated from their control.
[39] [40] This means that the owner can decide what to do with the asset in every contingency not covered by a contract. In particular, an owner has stronger incentives to make relationship-specific investments than a non-owner, so ownership can ameliorate the so-called hold-up problem. As a result, ownership is a scarce resource (i.e. there ...