Property rights always seemed to ring untrue to me. I think the better term is domain rights. You see, when you awaken in the morning, you go to work. If your domain is "well defined," then you will perform better. Just as with property rights: if your domain is well defined, then you expect better performance in the context of domain rights. It is probably semantics, but I think it important down the road in my attempt to marry Austrian School and Gandhian School Economics with the seal of Econometrics.
When the American Indian, for example, talks, he mights say, "Who can own the sky, the land or the water?" Our short life span on earth is more true in terms of "domain rights" than the term "property rights," which describes a permanence that does not exist in reality.
Gene
