Should agricultural land be protected from sub-division?: economic considerations [New South Wales]
1986
Musgrave, W.F. (University of New England, Armidale (Australia))
Zoning causes landholders to lose certain exclusive, or private, property rights, and causes new property rights to be created enabling the conversion of an open resource to property held in common. While landowners affected may lose by the taking, they stand to gain by the granting of new rights. But, losses of the private exclusive rights could still be net losers even if the values of the collective rights exceeds that of the lost private rights if they are not the sole owners of the new collective right.
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