Whether looking at armrests or reclining rights, seat savers or window shades, airplane etiquette is unclear about what we temporarily “own.”
With four countries having made lunar landings, we can ask if any one can own moon water and other lunar resouces.
Looking closely at the Index of Economic Freedom, we can see where property rights help to boost market activity.
Thinking of a Microsoft patent, we can ask if we want AI people with specific personalities that can converse with us.
Many of us share Netflix passwords. We think it is okay to recline in our airplane seat. And we would be horrified if someone casually took the groceries out of our cart at the checkout. All three situations are similar.…
When the ownership rights of a $3.1 million John Constable painting are unclear, no one can buy or sell, display, or conserve it.
When you think about shrinking airline seats, you could consider pitch and width, but really the problem is all about property rights.
Like Turkmenistan and Zimbabwe, wherever property rights are unpredictable, we can assume that we have a command economy.