The Three Levels of Ownership

Abstract

This essay identifies "three levels of ownership" of land – private ownership, local ownership, and global ownership. American law has placed great emphasis on a supposed clash between the first two, as local governments attempt to regulate against the wishes of private owners. But recent political and economic research highlights the extent to which homeowners use local law to benefit their interests at the expense of outsiders, including potential migrants. A greater emphasis on global ownership, perhaps paired with private ownership, would lessen the adverse impact of this local protectionism.

Keywords: Ownership of Land, Private Ownership, Local Ownership, Global Ownership, Local Protectionism, Migrants, Government Regulation

JEL Classification: K10, K11, K19