On Property Right III
2005.06.06 5:30

Morosoph wrote on his 'Property is a Positive Right' that

Coase's Theorem lies at the root of why land is property, and air is not, for example. The key here is the concept of transaction cost.

We cannot claim property right on things which show high publicity, so coast line can be used as a national border. Of course as well as parks or roads, coasts can be used more publicly than other simple land. In the case of coasts utilised as port, too. Port is used as highly public facilities. How about factories built adjacent to the sea? They occupied the area adjacent to the sea. Answer. They are usually engaged in highly public industries, of course they are privately owned, but rather collectively owned by companies which represent the collective benefit of shareholders.

Beaches are usually used similar to the parks, so we cannot claim property right on the beaches, too.