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"There are profound reasons why property rights have never been held in an exclusive vacuum. People only need property because there are other people who might contest their control of scarce resources. The institution of property mediates among property owners and would-be interlopers. But property regimes quickly fall apart when people do not understand, respect and tolerate the property claims of others." Carole M Rose, Canons of Property Talk, Or, Blackstone's Anxiety, 108 Yale Law Journal, 631-632(1988).
1. Evaluate the importance and limitations of property as a theoretical concept according to the discussion by Carole Rose in the excerpt above?
2. Demonstrate how property law addresses the limitations you have identified above?
3. Analyze the relevance of the concepts of the Tragedy of the Commons and the Tragedy of the Anti-commons to the above discussions by Carole Rose.
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