Soldiers who won in the long lasting Dacian wars were given land in Dacia after its Roman conquest of 106 A.D., in payment for military service. After colonization of North America from 1492, in a watershed decision, the U.S. Supreme Court in Johnson v M'Intosh (1823) took property ownership of U.S. land for federal government from First Nations so that Virginia could pay its militia that fought the Revolutionary War.
About 1700 years apart the same pattern creates property rights where none existed. Discovery doctrine, used in both cases, spreads as property rights are needed.
A system based on rule of law that guarantees property rights, in order to survive, needs to have its currents reach every element that the flow may reach. Constructal law predicts a global property rights regime. Before, constructal law predicted free roaming bison over prairie lands of First Nations. What happens when two systems meet, or compete?
Monetary system evolved from transactional money-less exchanges, through the middle ages, Bretton Woods, US Exit from gold standard (Nixon shock), Bretton Woods II, to Euro-zone creation in late 1990s, and aftermath of 2008 crisis. We live the competitive & cooperative nature of a system with multiple currencies of last resort (with China's arguably winning). Many actors felt a disconnect between their perceptions about their own net worth and their access to the controls of the financial system. Young professionals, frustrated with a system out of their control, asked: "Why not make a start-up for monetary instruments directly, without intermediation of any product or service?" Hence the rise of "alternative virtual currencies."
Read all about it in the:
PROCEEDINGS OF THE ROMANIAN ACADEMY
Series A:
Mathematics, Physics, Technical Sciences, Information Science
SPECIAL ISSUE
THE XTH CONSTRUCTAL LAW AND SECOND LAW CONFERENCE
AT THE ROMANIAN ACADEMY 15–16 MAY, 2017, IN BUCHAREST
(May 2018)
Adrian S Petrescu, Ph.D., J.D.
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