- Cafe Hayek - https://cafehayek.com -

Bonus Quotation of the Day…

Tweet [1]

… is from pages 5-6 of the 2008 updated version [2] of University of Arizona philosopher David Schmidtz’s excellent 1994 paper, “The Institution of Property [3]“ (footnote deleted):

Philosophers writing about original appropriation [as a means of establishing property rights in some resource] tend to speak as if people who arrive first are luckier than those who come later. The truth is, first appropriators begin the process of resource creation; latecomers get most of the benefits. Consider America’s first permanent English settlement, the Jamestown colony of 1607. (Or, if you prefer, imagine the lifestyles of people crossing the Bering Strait from Asia twelve thousand years ago.) Was their situation better than ours? How so? They were never caught in rush-hour traffic jams, of course. For that matter, they never worried about being overcharged for car repairs. They never awoke in the middle of the night to the sound of noisy refrigerators, leaky faucets, or even flushing toilets. They never wasted a minute at airports waiting for delayed flights. They never had to change a light bulb. They never agonized over the choice among cellular telephone companies. They never faced the prospect of a dentist’s drill; after their teeth fell out, in their thirties, they could subsist for a while on liquids. Life was simple….

Original appropriation diminishes the stock of what can be originally appropriated, at least in the case of land, but that is not the same thing as diminishing the stock of what can be owned. On the contrary, in taking control of resources and thereby removing those particular resources from the stock of goods that can be acquired by original appropriation, people typically generate massive increases in the stock of goods that can be acquired by trade. The lesson is that appropriation typically is not a zero-sum but a positive-sum game. As Locke himself stressed, it creates the possibility of mutual benefit on a massive scale. It creates the possibility of society as a cooperative venture.