TITLE:
The Positive-Externality of Property Right and the Property Right-Regulation: Take the Grain Production-Regulation of Land Use as an Example
AUTHORS:
Beiwei Liu, Zhengfeng Liu
KEYWORDS:
Positive-Externality, Property Right Regulation, Suppressive-Regulation, Incentive-Regulation
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.8 No.3,
March
31,
2020
ABSTRACT: Property right also has positive-externality. The beneficial object of positive-externality of property right is society rather than property owner. The private income of individual economic efforts is separated from social income. The positive-externality of property rights is subject to the use of property rights, economic and social development, and the people’s cognitive ability and cognitive level, and has the characteristics of time difference and historical dynamics. The significant Positive-Externalities of property rights are consistent with the public policy objectives. In order to maximize the realization of the public policy objectives and ensure the scale of production mode with significant Positive-Externalities, the government takes Suppressive-Regulation over related property rights and limits the use of related assets to specific categories or scopes. In order to ensure the level of investment in the production mode of property rights with significant positive-externality, the government adopts Incentive-Regulation over relevant property rights and grants certain economic incentives to the specific use of relevant assets. The positive-externality of property rights not only provides the root of legitimacy for both suppressive property rights regulation and incentive property rights regulation. A single Suppressive-Regulation of property rights may not effectively guarantee the sustainable reproduction of production mode with significant Positive-Externalities, which requires the coordination of incentive property rights regulation. Incentive-Regulation does not necessarily have the effect of promoting the sustainable expansion and reproduction of production mode with significant Positive-Externalities. Legal incentive property right regulations with sufficient benefits can effectively correct the market failure of production mode with significant positive-externality and promote the sustainable extended reproduction of production mode with significant Positive-Externalities. Property right regulation is a public policy tool serving the public policy objectives, but whether the public policy objectives can be achieved depends on the accuracy of the property right regulations, that is, Whether the definition of the object of control as property right Suppressive-Regulation and property right Incentive-Regulation is accurate, whether the regulating intensity is sufficient, and whether the regulating measures conform to the principle of modern rule of law, Neither too abstract nor too concrete.