Carol Rose on the moral subject of property

Rose, C. M. (2007). The Moral Subject of Property. William and Mary Law Review, 48(5), 1897–1926.

In this beautifully written article, Carol Rose makes the argument that although property arrangements might seem unfair or unjust in many respects (how it is acquired, how it is distributed across society, its effect on the commoditization of sacred or moral aspects of social life), the institution of property is nevertheless beneficial for society at large insofar as it creates stability and incentives for individuals to take care of their property, invest, trade and create more value for society at large in the long run. So even when arrangements are not perfect in many specific cases (because they have morally questionably implications), it’s better to tolerate these shortcomings and to apply the established rules of ownership acquisition and distribution, because “property, as an institution, requires stability in people’s expectations about their own and other people’s claims.”

The article also contains a couple of nice quotes about one of my favorite topics: the relationship between associative and strict reciprocity: “Gift exchange cements community bonds-from a community of two on up to many more-keeping all the participants in a vague but nevertheless socially and emotionally charged condition of mutual give and take.” “(…) Gift giving differs from market exchange because through gifts, each party engages in imaginative participation in the life of the other, helping to cement relationships.”

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