World Tour 5: Sand heists and property rights in the Caribbean

Imagine a nation where, for the residents, land is for the claiming. You walk down the street, pick out a nice looking plot of land, and just plop down a marker. No rent, no taxes, no deed – just free land. That’s the communal system of property rights that governed a small Caribbean island for over a century. This week on our Summer School World Tour we make port on the small economies of island nations, a great place to explore how different experiments play out. Every small change – the good and the bad – has big consequences. First, the fascinating test case on the island of Barbuda, where the people there have found a way to run things without the usual, formal land rights. Then, we consider the vulnerabilities of small nations as we dig into a mysterious sand heist in Jamaica. A stolen beach – yes, you read that right – and something called “sand forensics” reveal the importance of this seemingly infinite resource and the challenges of protecting public spaces when there’s money to be made. Along the way we found ourselves asking: Does property have to be private? What happens when it’s not? How can you protect scarce resources when they’re part of the vast, public spaces everyone shares? Featured Episodes: - The Island No One Owns (2020) - Peak Sand (2018) Featured Terms: - Tragedy of the commons - Property rights - Path dependence - Ownership in common *Support:* - NPR+ (sponsor-free listening & bonus episodes) - And please click “follow” in your podcast app so you don’t miss an episode. *Read:*  - Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life (Audiobook here) - Our weekly longform Planet Money newsletter - Our weekly Indicator link round-up newsletter *Follow:*  - Instagram - TikTok - YouTube - Facebook *This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre and edited by Planet Money Executive Producer Alex Goldmark. It was fact-checked by Leyla Doss and engineered by Annlie Huang.* See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy