lectur6-page8 - the legal property rights of others” Some...

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8 8 u Individuals are usually free to use their private property as they choose, so long as they do not infringe on the legal property rights of others. u Individuals are usually allowed to enter into private contractual agreements that are mutually satisfying. The Institution of Private Property Hmm. Can I go out this afternoon, buy some land, and begin constructing a confined swine facility in this state? Well, the answer is basically no. Our state has recently been under a construction moratorium that has not allowed the construction of new swine facilities. Even without this moratorium, I would have to go to government and get the necessary permits to build these facilities on land that I own. I have to basically get permission from the state. Does that sound like what is represented in the slide above? Well, basically no, but look carefully. “… so long as they do not infringe on
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Unformatted text preview: the legal property rights of others” Some citizens in North Carolina allege that the swine industry has infringed on the legal property rights of others. Some citizens allege that the odor is offensive and has decreased the value of their real estate holdings. Some citizens allege that their wells and surface waters have been contaminated by excess nitrogen associated with swine effluent lagoons. We are talking about an alleged negative externality. Now we can see the avenue of government involvement in this issue. Is this too much government involvement here? Not enough? Just right? I am sure we could get some real fireworks going here. But, the bottom line is whether the allegations are true or false. Will we wait for unbiased science to make that determination? Will scientific analysis be unbiased?...
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