This important volume gives a comprehensive overview of the economic foundations of private property law. Beginning with economic and philosophical accounts of the origins of property, the authoritative selection of articles traces the evolution of both private and common property, establishing how they coexist within a mature property rights system. Particular attention is directed towards the regulation of specific types of commons such as pastures, streets and fisheries. The study also examines the rules that govern the acquisition, protection and transfer of private property as part of a coherent system of property rights.