Property rights can be defined and enforced
A)only by the government
B)only by ethical norms
C)by the government and by ethical norms
D)only through constant renegotiation
E)by government, by informal social actions, and by ethical norms

Question

Quizplus · Accepted Answer

Property rights can be established and enforced by different means, including government intervention, informal social actions (such as reputation or community norms), and ethical norms (such as a duty to respect each other's possessions). While the government might be the ultimate enforcer of property rights through laws and regulations, other sources of normative order and control can also shape and sustain property arrangements. One example is the role of community-based organizations, which can coordinate collective action, monitor compliance, and foster trust among members. Another example is the use of customary law or religious principles to codify and reinforce property norms that are respected by local communities. Ultimately, the effectiveness of property rights depends on various factors, such as the legal system, cultural traditions, economic incentives, and social norms.

Property Rights Can Be Defined and Enforced