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The universal commons: An economic theory of ecosystem ownership

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  • Herrmann-Pillath, Carsten

Abstract

A key question in ecological transformation is what the law can contribute, beyond mere regulatory schemes. One strand is defined by the ‘rights of nature’ concept. Another emerging idea is to recognize living systems as property holders. This paper elaborates on the latter in presenting a new synthesis that is inspired by medieval conceptions of the commons: The new commons are regimes of co-habitation and shared access to land while assigning the ultimate property title to an ecosystem, represented by a trust with ecological fiduciary duties. This builds on distinguishing three modes of appropriation of land: possession, ownership, and property, which allows for differentiating various types of agencies of human and non-human members of an ecosystem. The ‘universal commons’ is the legal form of appropriating land in a decentralized and local institutional regime, substituting for both public (sovereign) and private property claims on land. The paper sketches its basic features and ways to systemic transformation.

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  • Herrmann-Pillath, Carsten, 2023. "The universal commons: An economic theory of ecosystem ownership," Ecological Economics, Elsevier, vol. 208(C).
    • Handle: RePEc:eee:ecolec:v:208:y:2023:i:c:s092180092300085x
    DOI: 10.1016/j.ecolecon.2023.107822
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