Don’t touch my

Property
Haikal, Wen Xin, Afiq, Yan Teng
1.Introduction
2. Authors
Bastiat
Locke
Cohen

3. Q & A
Frederic Bastiat
 Flow of Argument -
“Property and Law”

What is property? Classical Liberalist Approach

The problem with the On Free Trade and

socialist approach property
 What is property?
“Property, the right to enjoy the fruit of
your labour, the right to work, develop
yourself, and exercise your faculties as
you please without the intervention of
the state except in its protective role,
that is liberty”
Property predates the
Law
 Why should the state minimally
interfere?

● Liberty
● Unity
Benefits ● Economic security
● Order in public
Finances
 Property as The alternative?

Conventional ● Rise of a privileged

few
? ● Laziness
● Deprivation
● Economic instability
and uncertainty
● Organisational
Ineffectiveness
 Free Trade,
Property Rights
and State
intervention
What right does the state have
regarding the property of its
citizens?
John Locke
State of Nature→ Pre-society stage
Labor distinguishes what is
private from the common
Right of appropriation in the state of nature

To one’s convenience Bartering of perishable

and enjoyment of life property
 Problem:
Entrance into society
Money serves as an incentive to
accumulate goods

More wastage

Infringes on another’s right of

appropriation
 The
Social
Contract
State of nature -> Civil society

Right of appropriation not properly upheld

State is a legitimate authority to uphold equal natural

rights for all
Morris Cohen
Existing Justifications of Property

Occupation Personality
Theory Theory

Labour Theory Economic Theory

 Occupation theories

“Finders is Keepers”
 Occupation theories

● No empirical basis for

large accumulation of
wealth
Problem
● Cannot justify
inheritance of wealth
and transactions
 Labour theories

“Labour produces
property”
 Labour theories

● How to quantify
labour in modern
Problem economy?

● Ethical concerns
 Personality theories

“Property is freedom”
 Personality theories

● Negative externalities

Problem ● How to draw the line?

 Economic theories

“Best enterprise
wins”
 Economic theories

● Accumulation does
guarantee good use

Problem ● Competition is
wasteful.

● Firms are not socially

conscious
 Existing theories are
insufficient! The state
needs to uphold
collective good.
Property, Sovereignty, Power

Inherent in property is
the ability to exclude
others
Not for the abolishment
of property- but where
should we draw the
lines?
Ultimately, Private property is
not sacrosanct from state
interference, if it is for the
collective good.
 In summary, what right does the
state have regarding the property
of its citizens?
 Thanks!

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