Think about a natural resource that everyone in your community uses, such as the air in Earth's atmosphere or drinking water. Wh
at types of property rights can be applied to it, and who holds those rights? What type of property rights regime do you think would apply (or do more than one regime apply) to this resource in the United States? Explain your answer.
The rights of the resource depends on the resource in question. For example, an abundant resource such as Air would be considered a birthright, and no one can actually hold the rights to it, also since it cannot be taken. On the other hand, limited resources such as water would fall under the rights of the landowner. Therefore, any and all land property rights in the country would apply to the body of water, limited to the boundaries of the land. Meaning that if a stream or body of water passes the individual's land it is also within the rights of the owner of the other piece of land in which the water passes through.
