|
Abstract:
|
"Deep property is a term which describes a profound emerging concept of property which has great or specified extensions of the conventional elemental land property right, and can be unfamiliar or even sui generis1 within property theory and formal property law. Arguably emerging modern concepts of private property rights especially those within the aegis of deep property still remain trenchantly elusive, such as water, biota, and carbon. Nevertheless, whilst only dimly understood the increasingly murky characteristics of deep property are slowly being revealed as imbued with inherent complexity and pervasive cultural baggage. However deep property is not incomprehensible or taciturn; a unique world of property rights is emerging with a genius which is sometimes indefinable, and yet often disconcertingly intelligible in its terrible simplicity. Nevertheless, any attempt to uncover deep property necessitates penetration and peeling of the layers comprising the conventional elemental land property right, many which remain inchoate. Importantly, empirical interrogation of these layers of rights may need to occur repeatedly using different lenses if an understanding of the characteristics of deep property is to develop, and the reasons for its complexity and culture uncovered, especially in water, biota, and carbon. In attempting to garner the concept of deep property, such inquiries may be placed on a seemingly vulnerable theoretical limb on the extremity of current thinking on property and what it means. Yet, in the process of doing so, current property theory and formal property law may be richly extended producing a valuable governance tool. Deep property is clearly a governance tool and focuses on the strong belief that natural resources require new modes of governance, particularly new forms of property rights. It is central to disentangling the comfortable bundles of property rights we have previously dealt with in natural resources such as water, biota, and very recently carbon. Established methods of governance of these natural resources is inadequate to deal with rapidly developing needs such as climate change mitigation. Indeed, property rights in carbon is a crucial example of this conundrum providing stark evidence of the inadequacy of existing modes of governance."
|