2/ Capitalism thrives on bundling and undbundling rights. It is good and proper that you can sell a full share of stock, or sell just the dividend flow but not the voting authority, or create a synthetic instrument called a tranch based on a basket of underlying mortgages
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13/ But even then, one can imagine someone buying land that comes w the right to build a house, putting it off until retirement, and then losing that right at age 64. Was a big case re regulatory takings and Calif Coastal Commission re this ~15 yr agohttps://twitter.com/Gormogons/status/1093518797934346243 …
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14/ Anyway, I remain a total ancap, but over the last few years, hanging around with a lot of retarded 22 yo lolbertarians here in the Free State Project, I've become more nuanced. 80% of what state does is retarded, but 20% approximates free market solutions people want.
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15/ The mechanism is still bad, and should be replaced by market mechanisms (especially as IT improvements mean that transaction costs fall year after year), but a Chesterton Fence approach (asking WHY did anyone want such laws?) is prudent. Exeunt.
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16/ Damnit, I was half way typing up a reply to Eddie's tweet, and then he made the tweet I was replying to. (yes, I meant to type exactly those words above)https://twitter.com/random_eddie/status/1093521051353518080 …
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17/ There is a longer thread on how arbitrary / capricious / evil redistribution of rights becomes just over time. This is mostly a utilitarian argument (and, as noted, I'm a deontologist), but has some deontological components as well. Must work now; I'll do it justice later
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18/ This surprises you?https://twitter.com/random_eddie/status/1093521448654815232 …
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21/ srs, tho, I'm going to read the dead before I buy acreage, and what is the zoning code except the dead of rights that go along with the property?
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End of conversation
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