Can I own myself terming it as property rights?

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Suppose the exchange rate between the British pound and the U.S. dollar is £1 = $2.00. The U.S. government implementsU.S. government implements a contractionary fiscal policya contractionary fiscal policy. Illustrate the impact of this change in the market for pounds. 1.) Using the line drawing tool, draw and label a new demand line. 2.) Using the line drawing tool, draw and label a new supply line. Note: Carefully follow the instructions above and only draw the required objects.

Just Part D please, this is for environmental economics

3. Consider a single firm that manufactures chemicals and generates pollution through its emissions E. Researchers have estimated the MDF and MAC curves for the emissions to be the following: MDF = 4E and MAC = 125 – E Policymakers have decided to implement an emissions tax to control pollution. They are aware that a constant per-unit tax of $100 is an efficient policy. Yet they are also aware that this policy is not politically feasible because of the large tax burden it places on the firm. As a result, policymakers propose a two- part tax: a per unit tax of $75 for the first 15 units of emissions an increase in the per unit tax to $100 for all further units of emissions With an emissions tax, what is the general condition that determines how much pollution the regulated party will emit? What is the efficient level of emissions given the above MDF and MAC curves? What are the firm's total tax payments under the constant $100 per-unit tax? What is the firm's total cost of compliance…

Answer 2

Question

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Answer 6

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Answer 7

Chapter 1, Problem 1E

To determine

Can I own myself terming it as property rights?

Answer 8

Expert Solution & Answer

Answer to Problem 1E

You cannot fully own yourself in the name of property rights.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

"You are a member of society. You can grow up only when the society contributes to your growth too. You are using the resources that the society has provided you. In return, you cannot solely declare your whole self to be private property, who can do anything."

You can choose how to develop parts of your body, whether that be your brain or your muscle.
You get to choose the careers that are most suitable for you.
You have the full rights to transfer your assets such as brainpower or strength in exchange of a suitable remuneration.

However, like property rights, you cannot do some things.

Just because you are capable of doing so, does not mean that you can commit any act in a society. It is the society, which defines acts permissible for you.

Similarly, the Government, in some cases, has the right to select a particular job type or your location of posting.

You may not always control the remuneration that you will get for transferring your skills and assets. Rather your employer decides the remuneration that you are entitled to from his viewpoint.

So, while you own and have extensive rights over yourself, but it is equally important how the society views you. You have to control yourself to comply with its social rules. The same can be said for the government regulations.

Just like the property, you can own and develop yourself, but within the ambit of regulations that government and society has bestowed on us.

Answer 12

Economics Concept Introduction

Introduction:

In countries, where you have well defined property rights, you have almost total control over the property. You can decide how to utilise your property the best, and you have the right to fix the price, if you decide to transfer the ownership rights.

In case the government wants to take that property, it has to pay a fair market price to you.

However, it is not that every aspect of property is under your control. The way your property is classified (rural, urban, agricultural .etc.) falls under ambit of government. For projects deemed necessary for the country, your land may be taken over forcibly by Government for a price that may seem to be lower than that you could have achieved on your own.

Our rights and ownership over our body is akin to the rights that you have over your own property.

Answer 13

Ch. 1 - Prob. 1E Ch. 1 - Prob. 2E Ch. 1 - Prob. 3E Ch. 1 - Prob. 4E Ch. 1 - Prob. 5E

Can I own myself terming it as property rights?

Can I own myself terming it as property rights?

Answer to Problem 1E

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions