Here’s what we’re reading today:
- “Property Rights to Surf Breaks” – A topic near and dear, obviously. From the Property and Environment Research Center. (Yes, the article is from 2010. But it’s new to us.) “Overall, Kaffine finds that at higher quality surf breaks, locals engage in more attempts to restrict entry by nonlocals, resulting in more secure property rights at such locations. The possibility that the private creation of property rights would be more likely to emerge for more valuable resources was first suggested by Harold Demsetz (1967).” Check it out.
- “US economy less competitive, and it is the legal system’s fault: Expert” – From CNBC, a report concluding that “‘The quality of the legal system in the United States has declined in the sense that it no longer delivers the rule of law or protection of private property like it once did,’ Ryan Murphy, a professor at Southern Methodist University’s Cox School of Business who authored the report, told CNBC via email.”
- “Title to Come – Property rights are still wretchedly insecure in Africa” – From The Economist, this piece about property rights in African countries. “In all rich countries, property rights are secure. Formal, legal title makes it easier to buy, sell and develop land. Buyers can be confident that the seller really has the right to sell what he is selling. Owners can use their property as collateral, perhaps borrowing money to buy fertiliser and better seeds. Legally recognising land ownership has boosted farmers’ income and productivity in Latin America and Asia.”
- Finally, “Who Owns the Moon? Space Law & Outer Space Treaties” – “The field of space law evolved to deal with questions such as property rights, weapons in space, protection of astronauts and other matters.” From Space.com.