Property is a settled expectation
What is a person really protecting when they claim something as their own? On Bentham's account, nothing but an expectation, the confidence that what they hold today they will hold tomorrow.
Property, Bentham argues, is not a physical grip on a thing but a settled expectation, the confidence that what you hold today you will still hold tomorrow. The whole business of the civil law is to protect that confidence, because a society that lets expectations be disappointed at will has destroyed the motive to work, to save, and to build. Take away the assurance and you take away the reason anyone plants a crop they will not be there to reap. The law does not find property in nature; it creates it by guaranteeing the expectation, and stands or falls by how well it keeps that guarantee.
- utility
- legislation
- self-interest
- justice
- political economy
- property
Enter a dialogue
- Someone loses a thing they had counted on keeping and feels wronged beyond the mere loss; what does your idea of expectation name in that hurt?
- If property is only an expectation the law happens to protect, doesn't that make ownership a mere convenience the state can withdraw at will?
- How does an expectation the law is bound to guard differ from a wish or a hope it owes nobody anything for?
- To make settled expectation the heart of property, what older claim, that a thing is simply and naturally mine, must a person let go?
- A tenant hesitates to improve land they may lose next year; how does your theory explain what the missing security costs everyone?