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Full-Text Articles in Law
The Fair Market Value Of Public Resources, Bruce R. Huber
The Fair Market Value Of Public Resources, Bruce R. Huber
Journal Articles
This Article explores the problem of public resource sales with particular reference to natural resources managed by the federal government. Lands owned by the United States hold trillions of dollars' worth of natural resources. Federal agencies earn billions in annual revenue from resource sales, yet critics assert that billions more could be reaped if resources were sold for a fair price. Although federal law has increasingly required that agencies price resources at fair market value, this requirement is surprisingly difficult to interpret and even more dfficult to implement and enforce. This Article analyzes the various forces that bear on public …
The Durability Of Private Claims To Public Property, Bruce R. Huber
The Durability Of Private Claims To Public Property, Bruce R. Huber
Journal Articles
Property rights and resource use are closely related. Scholarly inquiry about their relation, however, tends to emphasize private property arrangements while ignoring public property — property formally owned by government. The well-known tragedies of the commons and anticommons, for example, are generally analyzed with reference to the optimal form and degree of private ownership. But what about property owned by the state? The federal government alone owns nearly one-third of the land area of the United States. One could well ask: is there a tragedy associated with public property, too? If there is, here is what it might look like: …