A. How can we effect and control inter-generational transfers of wealth?
B. To what extent may government control ownership, transfer of property for the public good?
-and prevent a private owner from extracting the full benefit of
II. Property is more than just the land, it is a bundle of rights: use,
exploitation, occupancy, & rights to exclude others from using it.
A. Why do private owners have a right to exclude?
1. to maximize social good: land is not unlimited, to extract
profits, we must invest energy, effort.
2. the efficiency of private capitalism
3. private property rooted in 17th & 18th century liberal thought.