First vision: Property. Property must be unalienable from their owners. This requires not only a form of registering the relation owner-property but also expenses in property defense. If the owner does not have resources to defend his property, there is a problem.
Second vision: Responsibility. The one taking a decision should be the same who carries the consequences of that decision. The problem here is externalities in the sense that some people can potentially suffer the consequences for decisions which they have not taken.
Thursday, April 5, 2018
Subscribe to:
Posts (Atom)