Austrian Economics is all about property rights and individual liberty. While these concepts are clear in the mind of any devotee of Ludwig Von Mises work they have been more difficult quantify in a rigorous mathematical sense. The model being developed in this blog will make an easy to understand yet rigorous definition.
An Actor has a bag, the contents of the bag are the Actor's private property. Property rights are defined as the voluntary action to either add elements to the bag or remove elements from the bag. The corollary to this is that theft is defined as any other Actor removing elements from another Actor's bag. If it is voluntary than the owning Actor removes the element from his bag, if it is involuntary than another Actor performs the removal.
The final piece of the private property puzzle would be the involuntary addition of an element to some other Actor's bag that would cause a change to the elements in the bag.
The bag is a logical consrtuct not a physical one. I can put my groceries in a bag, but my house would be more difficult.
The Owner of the bag and its contents is the Actor whose bag it is.
Posted
Mar 30 2010, 05:42 PM
by
George Giles