The Fall and Rise of Functional Property

32 Pages Posted: 18 Nov 2005

See all articles by Francesco Parisi

Francesco Parisi

University of Minnesota - Law School; University of Bologna

Date Written: November 17, 2005


In spite of its stability as a fundamental institution of human society, the concept of property and the privileges, obligations, and restrictions that govern ownership have undergone substantial change throughout history. In this essay, I consider the main stages in the evolution of property and discuss some of the important structural variations of the legal and social conceptions of property. The comparative and historical study of the institution of property reveals a close relationship between the structure of an economic system and the structure and content of property rights.

Keywords: structure of property, origins of property, functional property, spatial property

JEL Classification: K10, K11, K19, D62, D70

Suggested Citation

Parisi, Francesco, The Fall and Rise of Functional Property (November 17, 2005). George Mason Law & Economics Research Paper No. 05-38, Available at SSRN: or

Francesco Parisi (Contact Author)

University of Minnesota - Law School ( email )

229 19th Avenue South
Minneapolis, MN 55455
United States

University of Bologna ( email )

Piazza Scaravilli 1
40126 Bologna, fc 47100

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