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Profit from the Priceless: Heritage Sites, Property Rights and the Duty to Preserve
Author(s) -
GIBSON KEVIN
Publication year - 2009
Publication title -
business and society review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.524
H-Index - 21
eISSN - 1467-8594
pISSN - 0045-3609
DOI - 10.1111/j.1467-8594.2009.00345.x
Subject(s) - warrant , valuation (finance) , property rights , normative , revenue , law and economics , cultural heritage , duty , profit (economics) , property (philosophy) , economics , tourism , recreation , business , law , microeconomics , political science , finance , epistemology , philosophy
This article suggests that corporate responsibility should be interpreted to include concern about resources that cannot easily be treated as commodities. Heritage Sites are places of historical and cultural importance. Given the primacy of contingent valuation methods in creating policy, these sites are often at risk from development or tourism since there is pressure to treat them as revenue centers. The article moves to looking at the status of sites in terms of property rights, drawing on Locke's original formulation. The article concludes that there is a normative justification for treating these sites as collective property that may warrant maintenance, preservation and restricted access.