Tuesday 20 April 2010

Property rights can be arranged on a consensual and informal basis

We can have free market property agencies which arrange and organise the property rights within a region. This does not mean protection agencies; it is an informal agreement to recognise particular property. For example we might find that a group of people adhere to a particular set of guidelines set down by an agency in the locality. To violate this arrangement would mean that the agency does not recognise rights which were previously given to the transgressor. People would no longer support your claim to property, if you didn't play by the rules. Property rights can be maintained on an informal, consensual basis.

Do we all need to share the same set of property rights, and have the same agency, and only one agency? One agency will predominate in a particular region, but we do not need to have the same agency throughout the World. We don't need to vote for property rights, they exist already.

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