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Response Paper On "Theories of Property"
Response Paper On "Theories of Property"
In jurisprudence, the term property can be used in different senses. In its widest
sense, property includes all the legal rights of a person. In a narrower sense
property includes proprietary rights of a person. In this sense, the land, movables,
debts due to a person are property of a person. This is the most usual sense in
which the term is used.
The second theory is quite simple because this doctrine imagines a simple state of
society where each man creates his own products. He also says that things were
created out of something. But it is still not clear for me to define what this thing is.
Also, the second theory i.e, the labour theory fails in the case where a man
neglects his land but sell at a huge profit because a railway station opens up that
part of the country. Here, his property or his profit is not out of labour. And this is
termed as “unearned increment” which is outside the category of individual
labour.
I also agree with the Hegelian concept that some control of property is essential
for the proper development of personality. And this theory leads to the conclusion
that society should be so organized that every member can, by toil within his
powers acquire such property as is necessary for true self-realization.
According to Paton, “the real question before the modern world is not whether
property shall be destroyed but whether some of the excesses of private ownership
of the means of the production are to be cut down”. I am still confused if the
property should be divided among the people on the first come first serve theory
basis or on the theory which says that property which to given to people based on
their hard work and effort. Both of these theories are correct for me to certain
point. But even now I am confused as to which theory by Paton is better.