tag:blogger.com,1999:blog-6374419459487768842.post6785247047521556380..comments2019-05-15T19:42:58.525-07:00Comments on Intellectual Space: Can There Be a Property Right in Value?Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6374419459487768842.post-57819043404683741602013-10-06T03:20:43.449-07:002013-10-06T03:20:43.449-07:00I agree that whether there can be property rights ...I agree that whether there can be property rights in value is a good question. But you tangle value (subjective) and price (objective "valuation" on the market).<br /><br />There can be rights to neither.<br /><br />Value is something in other people's minds. I don't own or control those minds. If they change their minds or preferences, my rights have not been violated. If something or someone changes their minds or preferences, my rights also have not been violated.<br />Otherwise, you could say that any human action violates your rights. <br />Let's say you sell ice cream by the park. If someone else sells ice cream by the park, they diminish that perceived value of your ice cream stand. If that someone sells frozen yogurt by the park, the effect may be the same. Ditto, if that someone sells hot dogs, or tells them that ice cream will make them fat, or does anything really.<br /><br />The same problem extends to price and market demand (since those reflect value and preference). Any action by a third party that affects available options for consumers to spend money will take away demand from some other goods. My ice cream, frozen yogurt or hot dog stands will put all pressure on the price of your ice cream stand (affect demand and market "valuation"), as they each are substitutes for your ice cream.<br /><br />I hope this shows the reduction to absurd of treating value as property.<br /><br />Now, you raise a good question of what is the meaning of damages in a legal system. I don't think that determines what is property or not. To the contrary, the system of property determines what how the legal system can work.Julien Couvreurhttps://www.blogger.com/profile/15158751165174523704noreply@blogger.com