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Legal Theory of Property Rights

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Marxist Theory of Property

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Marxist Theory views property rights as a manifestation of class struggle. Karl Marx and Friedrich Engels argued that the capitalist system allows the bourgeoisie to own the means of production, exploiting the proletariat who do not own property.

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Anarchist Perspective on Property

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Anarchist thinkers like Pierre-Joseph Proudhon claimed 'property is theft'. They believe that property rights are a form of coercion and that true liberty can only exist without authoritarian structures, including ownership laws.

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Commons Theory of Property

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Commons Theory suggests that certain resources should be held in common and not owned by individuals. This theory draws attention to the idea that some assets are better managed as a community for the collective good, like air and water.

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Libertarian Theory of Property

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Libertarian Theory advocates for strong individual property rights with minimal state interference. Originating from thinkers like Robert Nozick, it holds that redistributive taxation is tantamount to forced labor since it takes away the products of one's labor.

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Legal Realism on Property

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Legal Realism challenges the idea that property rights are natural or inherent. Legal realists argue that property laws are social constructions that reflect the power dynamics and interests of a society at a given time.

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Lockean Theory of Property

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Lockean Theory asserts that property rights are justified by one's labor. John Locke argued that individuals have a natural right to own property derived from their mixing of labor with resources. Philosophically, this theory emphasizes individual rights and the merit of work.

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Intellectual Property and Locke

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From a Lockean perspective, intellectual property is justified through the investment of labor into the creation of ideas. However, there is debate over the extent of the rights as ideas are non-exclusive and do not deprive others when shared.

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Hegelian Theory of Property

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Hegelian Theory considers property as an extension of personal freedom. G. W. F. Hegel believed property rights allow individuals to manifest their will and personality into the material world, thus it's an essential aspect of individual freedom.

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Utilitarian Theory of Property

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Utilitarian Theory evaluates property rights based on the greatest happiness principle. This perspective, associated with Jeremy Bentham and John Stuart Mill, states that property laws should maximize overall utility and happiness in society.

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Bundle of Rights Theory

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The Bundle of Rights Theory compares property rights to a bundle of sticks, each representing a different right like control, exclusion, benefit, etc. This theory is a flexible framework for understanding the complexity of property rights in legal contexts.

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