The Roman Theory of Property Rights

The Roman Theory of Property Rights

Do Roman property laws resemble modern laws at all? What are some of the most striking similarities and differences? Professor Richard Epstein focuses on the dynamic between public and private property rights in the Roman system. In particular, common resources such as waterways were governed differently under Roman law than they are in a more modern, Lockean property system.

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4 of 5: Sovereignty Over the Waterways: Roman vs. Modern Views [No. 86]

Professor Richard Epstein discusses what it means for governments to hold public waterways “in trust.” Modern societies must develop and enforce rules to govern shared waters because of the high demand for the resource. Professor Epstein explains ... Professor Richard Epstein discusses what it means for governments to hold public waterways “in trust.” Modern societies must develop and enforce rules to govern shared waters because of the high demand for the resource. Professor Epstein explains that a simple natural law system, such as Roman law, did not require this governmental oversight. The Romans had limited private usage of water and sparse population, so waterways were never overburdened.

Professor Richard Epstein is the inaugural Laurence A. Tisch Professor of Law at NYU School of Law, a Senior Fellow at the Hoover Institution, and Professor of Law Emeritus and a senior lecturer at the University of Chicago.

As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.

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