By Richard A. Epstein

Property lies at the foundations of all economic organization. Property theory in the past thirty years has blossomed and yielded rich fruits for those seeking a deeper understanding of the relationship between law, economics and society. Much of this intellectual achievement is due to the restless curiosity, creativity and sheer firepower of Richard Epstein. His new collection of readings in the modern economic analysis of property gathers together seminal contributions to the art, drawn from a wide range of viewpoints, and offering many surprising perspectives. Epstein’s magisterial survey essay that heads the collection itself gives new insights into how property institutions create systems of exclusion and governance across time and space, allowing separations and co-operations between individuals and so expanding the reach of human relationships and creativities.

Critics of property institutions also find a place in this collection, pointing to the deformities and inequalities that can result from property powers. The twenty-two essays range across fields of urgent contemporary significance including commons regulation, environmental control, aboriginal titles, and intellectual property. Special mention must be made of Epstein’s tongue-in-cheek study of allocation of car parking places in wintry Chicago, a metaphor for the inventiveness of human society in constructing new forms of property. This is no mundane collection of no-longer-read classics. It is a thesaurus of ideas that cannot be missed. – Joshua Getzler, University of Oxford, UK

This important volume gives a comprehensive overview of the economic foundations of private property law. Beginning with economic and philosophical accounts of the origins of property, the authoritative selection of articles traces the evolution of both private and common property, establishing how they coexist within a mature property rights system. Particular attention is directed towards the regulation of specific types of commons such as pastures, streets and fisheries. The study also examines the rules that govern the acquisition, protection and transfer of private property as part of a coherent system of property rights.

Published Year: 2007 Format: Hard Back ISBN: 978 1 84720 114 0 Publisher: Edward Elgar Publishing No of Pages: 584 Our Price: £ 135.00 Reviews: 0 reivew(s).

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