Show or hide comments about the document.
Search over the document's text.
Share the document through social networks or e-mail.
After selecting an area on the page.
...you can:
copy the text
share the segment
comment
cite the document

Spring 2002

ISSN 0890-913X

Volume 17, Number 2

Categories: Spring 2002 | Law

Why Constitutional Protection of Property Becomes Less Certain Over Time

Alan Lockard, George Mason University

Download

e-mail

<< Back to editing
Previous version by
<< Older
Newer >>
Revert to this one

Edit
Cancel
Fullscreen

Show comments
Zoom:
Page: / 16

Line spacing:
Word spacing:

Search:FindClose

search results

WhyConstitutionalProtectionofPropertyBecomesLessCertainOverTimeAlanLockardGeorgeMasonUniversityThepromiseofstaredecisisThispaperexaminesthedemiseofStareDecisisovertime.Itpresentsaneconomicexplanationastowhytheincentivestoadheretoprecedentdecayovertime.ItusestheSupremeCourt=stakingjurisprudenceasanillustrativeexample.SincetheFifthAmendment=stakingclauseprotectsagainsttheseizureofpropertywithoutjustcompensation,thedemiseofstaredecisisintakingsjurisprudencenecessarilymakespropertyrightslesssecureintheUnitedStates.Thespecificchangeshereappearconsistentwithmorerespectforpropertyrights,butIwillarguethattheforcethatdrivesthechangeisnotapermanentincreaseinrespectforpropertyrights.Itisapredictablebreakdowninstaredecisis(respectforlegalprecedent).Thepro-propertyrightsprecedentsbeingcreatednowwillprovetobeatleastasfragileastheanti-propertyrightsonesbeingoverturned.Theprincipleofstaredecisisisthatthecourtshouldadheretotheprecedentsestablishedbypreviousdecisionsinitsinterpretationofthelaw.Asdisputesspontaneouslyarisewithinasociety,theyareresolvedunderthedirectionofajudge,andthatdecisionentersthebodyofthelaw.Theprincipleofstaredecisisprescribesaprogramofcontinual,incrementalrefinementofthelaw.Issues,oncesettled,remainsettled.Humanproductioninacomplex,exchange-basedeconomyishighlydependentontheabilityofpersonstomakereliableplansforthefuture.Prosperityrequiresspecialization,which,inturn,requirescoordination.Thatdegreeofsocialcooperationisimpossibleunlesspersonscanmakereliableplansforthefuture.Investment,especially,ishighlyproblematicwherelegalrightsareunsettled.Thebindingqualityoflegalprecedentsallowsrationalagentstoknowwhattheycanclaimtitleto,andhowthosetitlescanbeexchangedthrough

GLIFOS-digital_archive

Metadata [hide]

Title	Why Constitutional Protection of Property Becomes Less Certain Over Time
Authors/Creators:	Alan Lockard, George Mason University
Year:	2002
Volume:	17
Number:	2
Pages:	37 - 50
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Constitution, Private ownership, Private enterprises, Jurisprudence, Market economy, Contracts, Institutional evolution, Incentive analysis

Citation:
Lockard, Alan / 2002. "Why Constitutional Protection of Property Becomes Less Certain Over Time." The Journal of Private Enterprise, 17(2): 37-50.