Theoretical Foundations of Property Rights

Theoretical foundations of property rights explore how and why individuals or groups are granted legal control over resources or assets. These principles help explain the origins, enforcement, and significance of ownership, emphasizing that well-defined property rights encourage people to use and care for resources efficiently, invest, and trade. Effective property rights reduce conflict by clarifying who owns what, supporting economic growth and social order. They are rooted in concepts from law, economics, and social contracts, aiming to balance individual incentives with collective benefits and ensuring resource management aligns with societal needs.