The debate on the environmental implications of property rights has a long tradition. Gordon (1954) and Hardin (1968) are famous for making a case for the positive impact of the definition and enforcement of property rights on environmental stewardship in the early days of the debate. They argue that rational decision-makers will only manage a resource sustainably and make investment and consumption decisions accordingly, if they are reasonably certain that they will be the principal beneficiaries of the pursuit of sustainability. In the logic of this argument, overexploitation and depletion of natural resources are likely in the absence of long-term control, i.e. in the absence of well-defined and well-enforced property rights.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Property rights and environmental stewardship
Doris A. Fuchs
- Springer Netherlands
- Chapter 3