Takings & givings: Toward common ground on property rights

The emergence of a property rights movement in the United States is causing a re-examination between the use of property and protection of the environment, between land as a commodity and as a natural resource. Advocates for expanded private property rights are increasingly organized and vocal in seeking to curtail governmental regulation of land use, much of it aimed at protecting the environment. Their concern is for competitiveness, individual freedom, and fairness. But they are inclined to dismiss evidence of environmental degradation and the finiteness of resources. They also tend to ignore the benefits landowners derive from regulation and the public subsidies that expand their opportunities to make money from the land. On the other hand, environmentalists and many government officials are concerned about the expansion of property rights because it could make regulation prohibitively expensive. They argue that regulation is needed to compensate for the tendency of market systems to disregard environmental protection. They also point out that our tradition of private property has never conferred on landowners the right to injure neighbors or society as a whole. Environmentalists often overlook the fact that most property owners do a reasonably good job of protecting natural resources, thus providing a benefit …