AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Evolution of Property Rights
One obvious way to make property rights meaningful is to have some coercive governing force. That does seem to be the main way that property rights work in our world. The second fact you mentioned had something to do with strong kinds of multilateral coordination. And there's a third option, which is that the users of a resource can collaboratively enforce rules about how that resource is used.