Private Land Made (Too) Simple
In a recent article in the Yale Law Journal, Profs. Thomas W. Merrill and Henry E. Smith express concerns about what they take to be the excessive abstraction of law-and-economics writing on private property. This scholarly discourse, they tell us, seems to have forgotten that property law has to do with things. It has become too focused on property as a bundle of legal entitlements and liabilities, overlooking the underlying res that a person might actually own.