'Invisible substances': Can we trade them? Of course we can...

Today I heard the leader of the federal opposition, Tony Abbott, describe the government's proposed change to an emissions trading scheme, as:

A market in the non-delivery of an invisible substance to no-one.

This position is not new, and Mr Abbott has for some years described carbon in terms such as an 'invisible, odourless, weightless, tasteless substance'. Regardless of the science or the economics involved in characterising carbon and the effectiveness of a carbon market per se, what interests me is the problematising of a market in an 'invisible substance'. It also surprises me in light of the law's unambiguous acceptance of intangibles as property, which supports the commodification and therefore marketisation of a host of 'invisible, odourless, weightless, tasteless'...non-substances.

Buying a book: How hard can it be?

Books as things no longer?*

The news this week that ebooks purchased from Barnes & Noble will self-destruct upon the expiry of the purchaser’s credit card, again raises the question of what exactly is an e-thing, and what are we buying.

I’ve written before about the nature of virtual goods at law, and whether they constitute property or not.  The issue here is related.

Businesses, boats, securities...

This recent post by Marshall Chambers looks at personal property and the issue of security interests under the new Personal Property Securities Act (Cth).  I suspect that we will hear more of this Act as it settles in.  It seems to have faced a few teething problems in terms of reliability of the register system in its first weeks of operation. It will be interesting to see if any disputes arise out of this, and how they will be resolved.