The Public Domain: Who Will ”Own” the Foreshore?
Listener: 1 May 2004.
Keywords: Environment & Resources; Maori;
Property rights – the rights to use, transform and transfer (sell) a resource – is a better term than “ownership” because there are so many aspects to them and different groups can share the rights. An effective market needs a clear and comprehensive definition of those property rights. The economic reforms of the 1980s clarified many. Sometimes the outcomes were paradoxical. The largest ever nationalisation in dollar terms was by Rogernomes, for the government first had to own State Insurance before it could privatise it. But property rights continue to trouble us.