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Article #1877

Re: Property Rights

#1877
From: Crandall
Date: Fri, 01 Jul 2005 18:21
23 lines
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>> The property owners will, I'm sure, be paid more than their
>> property is worth (though of course that was not the point of
>> their suit).
>


"David Marc Nieporent"
> No; by definition, they're being paid less than the property is worth to
> them.  If they were being paid more, they'd sell.


This is a statement of faith, not fact. It begins with the premise that 
prices are exactly set by their value, and that dollars are a possible way 
to measure things like value.

First, the argument is tautological.  Second, it doesn't describe what 
people do when they make decisions. Third, its primary purpose is to support 
an ideological position.

It's a vacuous statement.  As vacuous as suggesting that, for people who 
will not sell under any circumstances, their little run-down shack has 
infinite value, even larger than a GW Bush-era deficit.
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From: "Crandall" <crandall at K U dot E D U>
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Subject: Re: Property Rights
Date: Fri, 1 Jul 2005 13:21:14 -0500
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