what precisely is missing in individualism in the works of David or Patri Friedman?
what do you figure to do about "my ownership of this 1 square meter gives me the right to drain the 5 trillion liter aquifer under it"?
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dunno if it's *that* unfair; keying on "property" sets an expectation of "do whatever you want", "usufruct" sets a different expectation
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because of all the water you're sucking out from under other people's property, the sinkholes you're creating there, that sort of thing
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y'know, the externalities
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usufruct is generally held to be conditional on that you don't fuck shit up
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Specify property holdings better.
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how? property rights that don't imply the right to generate externalities? somethign else?
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If you own the aquifer, specify that. "Externalities" are mostly the result of poorly defined assets.
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i don't own the aquifer, but it's hardly my fault that if i take water from the 1m² i do own, water flows in from the aquifer
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real estate contracts should disallow externalities generally, then, or just specific anticipated externalities?
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well, *someone* should own the acquifer.
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