Law Commons^™

Memo On Binary Economics To Attorneys For Women And People Of Color Re: What Else Can Public Corporations Do For Your Clients?, Robert Ashford

College of Law - Faculty Scholarship

One important duty of lawyers is to assist clients in identifying and securing their essential rights, responsibilities, and opportunities. One important purpose of legal education is to enable lawyers to assist clients and society in identifying and securing essential rights, responsibilities, and opportunities. This Article describes one opportunity (based on an approach to economics called "binary economics" first proposed by Louis Kelso), rarely advanced by counsel, that may offer women and people of color, public corporations, and their shareholders benefits far greater than expectations based on the mainstream economic theories (classical, neoclassical, and Keynesian) usually employed to evaluate economic policy …

Back To The Future Of Conservation: Changing Perceptions Of Property Rights & Environmental Protection, Jonathan H. Adler

Faculty Publications

Property rights hold a central place in our Constitutional design and provide the foundation for America's market economy. Admiration of private property has not been universal, however. Some environmental scholars and policymakers have been particularly critical of classical liberal conceptions of private property on both theoretical and practical grounds, suggesting that traditional, classical liberal notions of property rights are incompatible with the demands of environmental protection. These perspectives influenced the development of command-and-control environmental regulation in the 1960s and 1970s. In recent years, however, the perception of private property's role in environmental conservation has begun to change. Disregard for the …

Property, Michael A. Heller

Faculty Scholarship

This article argues that despite its seeming disintegration, property is more vibrant than ever — it is a field that has focused on understanding the formal and informal institutions by which society channels decision-making for scarce resources. Many exciting recent innovations in property theory have arisen through dialogue between US and Commonwealth scholars and legislatures. The article is organized as follows. The first part explains the focus on analytic property theory, which is posed in distinction to a jurisprudential approach. The second part introduces the familiar division of ownership into a trilogy of ideal types: private, commons, and state. The …

Property And Environment: Thoughts On An Evolving Relationship, J. Peter Byrne

Georgetown Law Faculty Publications and Other Works

Private property is a necessary but insufficient tool for environmental regulation. Why is it necessary? There are several reasons. First, it settles who controls a resource, making rational management possible. While this may sound trivial, countries with weak or fragmented systems of ownership--or where enforcement of law is tainted by corruption--find it impossible even to begin to preserve resources or prevent pollution. This is especially the case when different individuals make conflicting claims to the same plot of land.

Second, private property owners have the incentive to preserve the capital value of their land. They can reap where they (or …