As it is, a commonwealth or a civil society is imperatively necessary to administer any property regime. There must be collective national standards (Sen, 1996, pp. 148-163). As a matter of fact, the free market system necessitates an array of public institutions and standards to shore it up (Fried, 1998). From this standpoint, the free enterprise system is in itself a type of "commons regime," that is, a collaborative undertaking to improve and develop well-being founded on rights of private property, contracts and market exchange.
The concept that some types of property are intrinsically public has its origin in Roman law (Lee, 1956, pp.109-110). Some forms of property, the Romans believed, due to its nature and character, should not be under individual ownership and control. These types of property were called res extra commercium, in contrast, properties that could only be used in common because they were indivisible (e.g. waterways, ocean, land) were known as res communes.
Derived from this belief, courts came up with a unique line of "public trust" analysis to categorise certain forms of property, like natural r ...Show more