The Creation of Knowledge in Society: Waste Defined by Property and Exchange

The Independent Review: A Journal of Political Economy, Forthcoming.

23 Pages Posted: 19 Dec 2022

See all articles by Art Carden

Art Carden

Brock School of Business, Samford University

Rosolino Candela

George Mason University - Mercatus Center

Multiple version iconThere are 2 versions of this paper

Date Written: November 11, 2022

Abstract

What is the relationship between private property and the Lockean Proviso? We offer two answers. First, the Lockean Proviso is an outcome that emerges as a by-product of private property, and therefore is a normative condition that cannot be realized without market pricing. Second, just as profits and losses are not independent aspects of a capitalist, private-property economy, the same is true for the conditions of the Lockean Proviso. Whether there is “enough and as good” of a resource cannot be understood independently of whether a resource is wasted or left to spoil. Therefore, what is regarded as “spoilage” or “enough and as good” requires context-specific knowledge that cannot emerge outside a private property system.

Keywords: Entrepreneurship; Lockean Proviso; Property Rights

JEL Classification: B31, B41, D01

Suggested Citation

Carden, Art and Candela, Rosolino, The Creation of Knowledge in Society: Waste Defined by Property and Exchange (November 11, 2022). The Independent Review: A Journal of Political Economy, Forthcoming. , Available at SSRN: https://ssrn.com/abstract=4275099 or http://dx.doi.org/10.2139/ssrn.4275099

Art Carden

Brock School of Business, Samford University ( email )

800 Lakeshore Drive
Birmingham, AL 35229
United States

HOME PAGE: http://www.artcarden.com

Rosolino Candela (Contact Author)

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
42
Abstract Views
305
PlumX Metrics