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Property Rights in Space: A Duty to Sacrifice
Beginning with its position that space is a part of the “celestial commons,” the Left argues that we need “democratic use of celestial resources for the benefit of all.” Property rights in space would allow “a few exorbitantly wealthy billionaires” to profit from space, while most of mankind is denied a share of the wealth….
End the Piece Meal Defense of Property Rights
During the 2017 Texas legislative session, protecting property rights from violations by local governments was a recurring subject and the source of great controversy. Legislators introduced bills to rescind local ordinances pertaining to plastic bag bans, tree removal, short-term rentals, and more. Gov. Gregg Abbott called a special session largely for the explicit purpose of…
The Ends do not Justify the Means
We are often told, whether implicitly or explicitly, that the ends justify the means. Modern politics is founded on this premise. A goal that many find desirable is announced, and a campaign is launched to pass a law or regulation to achieve that goal. What is frequently ignored is that these laws and regulations compel…
When “Rights” are Wrong, Part 1
Gresham’s Law holds that “bad” money drives out “good” money. For example, if legal tender laws declare that a one ounce brass coin and a one ounce gold coin are both worth $10, the more valuable gold coin will disappear from circulation. While Gresham’s law pertains to economics, the same principle applies to rights. When…
The Law of Demanding Supply
The law of supply and demand is a fundamental economic truth. One of its tenets is that when the demand for a value exceeds its supply, prices will rise. Conversely, when the supply of a value exceeds the demand, prices will fall. The willingness of producers to manufacture a value for a particular price constitutes…
Texas Supreme Court Sanctions the Rule of Whim
Last year, I wrote about the case of Hinga Mbogo, a Dallas auto shop owner whose property was retroactively rezoned to make way for restaurants and other businesses more to the liking of the Dallas city council. In late August, the Texas Supreme Court refused to hear his case, thereby forcing Mbogo to abandon the…