Regime Uncertainty – Stability of Property Law

Regime

Robert Higgs used the phrase “regime uncertainty” in a 1997 article: https://fee.org/articles/regime-uncertainty-then-and-now/

He explains that uncertainty about property rights has an enormous impact on how wealth owners control the use of their property – how they reap income from it and how they transfer to others on mutually acceptable terms. Politicians can royally screw things up.

 

Private property rights in the U.S. are safe… for now – but evil Leftist politicians continue to set forth menacing ideas on property law that could destabilize our system.  I say ‘evil’ because socialism immorally treats people as a means to an end (the goal is to force the interests of the collective above those of the individual).  A totalitarian Government destroys liberty – anyone familiar with history, economics and law knows this.

 

While the mainstream media trots out hate Trump messages day after day, I noticed that Senator Elizabeth Warren surpassed socialist Bernie Sanders and clueless Alexandria Ocasio-Cortez by proposing to nationalize business in the U.S.

https://www.nationalreview.com/2018/08/elizabeth-warren-plan-nationalize-everything-woos-hard-left/

 

It should not concern any of my clients because, not only is it preposterous, the idea has been ignored by mainstream media and exposed as absurd by anyone paying attention. Kevin Williamson calls her proposed bill a “batty plan”, David French a “terribly written mess” and Charles Cooke writes that “we are all worse off for her duplicity”.  Senator Warren and her advisors probably soon realized that the idea was dumb – she quickly proposed some additional anti-corruption legislation that distracted media attention away from her socialist ideas.

 

While wealth is safe in the U.S., it is not safe everywhere. The South African Government is threatening to seize private farm property of white land owners so it can be doled out as reparations.  Capital is highly portable and will quickly vacate a regime where it is threatened by Government shenanigans.

 

https://www.nationalreview.com/2018/08/south-africa-move-to-seize-private-land-threatens-rule-of-law/

 

I recommend maintaining U.S. jurisdiction over all assets. Our law is stable and is not threatened by regime uncertainty at this point.  If I was a South African lawyer, however, I might consider it time to get out of Dodge.  Our lawmakers should heed the ability of wealth owners to protect their interests when considering changes to a wildly successful and stable private property legal system.  Our Estate Planning War Chest is secure – despite ill conceived, feckless attacks from the political left.

 

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