YOUR DOG OWNS YOUR HOUSE1

In: Economic affairs: journal of the Institute of Economic Affairs, Band 22, Heft 4, S. 46-48

Abstract

If your dog guards your house, a widely held ethical theory of redistribution would contend that he is entitled to own part of it. Each contribution to a product justifies a claim to a share of it. In fact, the social product is produced by society as a whole and society may distribute it as it sees fit. The article argues that this reasoning is confused and misunderstands the function of contracts of exchange.