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| Author: | Turnbull, S. |
| Title: | Should ownership last forever? |
| Journal: | Journal of Socio-Economics
1998 : VOL. 27:3, p. 341-363 |
| Index terms: | SOCIAL ECONOMICS INTELLECTUAL PROPERTY LAW STAKEHOLDERS |
| Language: | eng |
| Abstract: | This paper investigates the utility of all international property rights being time limited with no limits required for real assets and corporate shares. Ownership rights evolved from hereditary rulers seeking to maintain political power and wealth in perpetuity. This objective is no longer relevant with rulers elected for a fixed time. Neither are perpetual rights consistent with economic justice, efficiency and sustainability. A review of modern techniques of investment analysis reveals that unlimited life property rights are not required and that they can result in investors obtaining benefits in excess of the incentive required to bring forth their investment. |
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