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Libertarianism and Private Property in Land
Author(s) -
Horn Walter
Publication year - 1984
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1984.tb01749.x
Subject(s) - libertarianism , private property , compensation (psychology) , property (philosophy) , law and economics , value (mathematics) , payment , economics , property rights , law , sociology , political science , microeconomics , philosophy , market economy , epistemology , social psychology , finance , mathematics , psychology , statistics
A bstract . The positions on private landownership of two libertarian scholars thought to have a wide following in that movement are examined The libertarians — Murray Rothbard and Robert Nozick —hold positions which are untenable. Rothbard's theory is almost indistinguishable from John Locke's and rests on the labor theory of ownership and the admixture theory of labor ; standards which are too vague. Nozick believes that making something valuable gives a right of ownership, but again the standard is too ambiguous. And it is necessary to appropriate a thing before one can improve it. The value added theory permits a utilitarian justification of landownership involving the payment of compensation to non‐owners.