Consuming Ownership: Comparing Property Rights and Consumer Protection Law as Regulatory Methods of Corporate Power in the Market

Abstract

How should the law regulate the use and management of a resource in market activity? The resource can be perceived as an entitlement, granting market participants veto power over its use and management. Alternatively, market participants can be protected as consumers with rules focusing on disclosure, repair, and safety. The two alternative protections reflect different ways of regulating the economic power of large corporate actors in the market. Property law grants individual control over the resource, while consumer law protects consumers from exploitation but leaves them dependent on corporations for the continued use and management of the resource. This article examines the nature and scope of these protections by engaging with cases where there is a shift from a property protection to a consumer protection. In all these cases, market participants who manage resources are no longer perceived as owners; they are consumers. This article points to the normative and political economy implications of this shift.