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
- Before any law, a hunter keeps his catch only while he stays awake and stronger than his rivals. Why could property not exist before law?
- 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?
- Where property is unsafe, people bury their treasures and enjoy them in secret. Why can the fear of losing spoil a possession before it is lost?
- Cloth lying in the Indies can belong to a man while the clothes he is wearing do not. What, if not holding a thing, makes it his?
- A law that cuts against settled expectations should, you advise, take effect only in the distant future. Why does waiting a generation make it fairer?