Money and Property

Money and Property

NB: This post is part of the “Piercing the Monetary Veil” symposium. Other contributions can be found here.

Lua Yuille and Rohan Grey —

Money and property law are mutually constitutive. Property rights are defined and valued in terms of their relationship to monetary instruments, while whether something counts as a monetary instrument for this or that purpose is itself a result of bundling property rights a certain way. Yet property law treats money as opaque: a neutral measuring stick that happens to prove useful in the process of doing the real work of property.* This is partly because money is grossly under-theorized and misunderstood by property law scholars. In property law, “money provides the unit in which prices appear, supplies a medium of exchange, and acts as a store of value”, but it does so as if by magic. Unlike students of economics, who are introduced to money through the self-consciously ahistorical fable that money evolved as an evolutionary response to the inefficiency and inadequacy of barter, American law students are not formally introduced to money at all. Money is taken as an idea that needs no articulation or unpacking. The result is a  ‘functional monetary illiteracy’ that fails to conceptualize the complicated relationship between money and property law, serving to obscure the role of the state and of private power in defining each.**

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Your Money or Your Life?

Amy Kapczynski – 

High drug prices are a major problem in the United States. In the Washington Post today, Aaron Kesselheim and I have an op-ed about what President Trump could do – immediately – to lower drug prices, if he had any intention of following through on all of those campaign promises and tweets. 649816939_1280x720(We also explain why his nomination of Alex Azar to head HHS is a clear sign that he will do none of this.)

Here I wanted to say more about the stakes of the drug pricing problem, and about one option we describe – a little known patent “eminent domain” power that could be a powerful tool to lower drug prices.

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Why “Intellectual Property” Law?

Amy Kapczynski – 

When I entered law school in 1999, I was primarily interested in two things: HIV/AIDS, and critical approaches to human rights.  I was also young and queer, and Bowers v. Hardwick was the law of the land.  Sodomy was illegal in many states, and so, it seemed, was I.  So, I was also deeply interested in the law of sexuality.

MSF_access_A4_poster_ring

Médecins Sans Frontières (MSF) poster

I ended up teaching and writing about intellectual property (IP) law.  My 1L self would not have believed it. (I even have the picture to prove it).

As a prelude to a series of future posts about my work in this field, I wanted to describe how I came to IP law – or rather, how it came to me.  If you aren’t sure what IP means or why it is important to social justice today, this post is for you.  The same is true if you are wondering how someone interested in law and political economy develops a research agenda, and why someone might choose patent law as a key part of it. Continue reading