This may be like throwing gasoline onto a fire, but here goes. Because I’m busy today writing a column for Saturday’s Observer — which I hope you’ll read at www.charlotte.com/opinion — I’ll toss out some red meat to the libertarians and free-marketeers among you. Check this book review from Slate.com about “Gridlock Economy,” by Michael Heller, an academic who studies property theory. The subtitle: “How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives.”
Heller argues, says reviewer Tim Wu, that creating too many property rights can actually wreck markets. Wu then critiques both the book and Weller’s thesis, but concludes that even though it has some flaws it’s one of those concepts that helps you see the world in a different way. The idea is that too many property owners means there are too many stakeholders and that can impede the functioning of the marketplace. As Wu puts it, “The basic idea that too many stakeholders can kill a project is well-known to anyone who has ever worked on a committee or spent 15 minutes in Washington, D.C.”
Read before you rant. And please recognize that just because I link to an article I find interesting, it doesn’t mean I necessarily agree with everything in it. It usually means I’m working on my full-time job as an editorial writer and oped columnist and don’t have time for lots of blogging. Full disclosure: I haven’t read the book and until today had never heard of Michael A. Heller.