Allen Tate

In his essay, “Notes on Liberty and Property,” Allen Tate gave us an indispensable anatomy of our problem. His essay begins by equating, not liberty and property, but liberty and control of one’s property. He then makes the crucial distinction between ownership that is merely legal and what he calls “effective ownership.” If a property, say a small farm, has one owner, then the one owner has an effective and assured, if limited, control over it as long as he or she can afford to own it, and is free to sell it or use it, and (I will add) free to use it poorly or well. It is clear also that effective ownership of a small property is personal and therefore can, at least possibly, be intimate, familial, and affectionate. If, on the contrary, a person owns a small property of stock in a large corporation, then that person has surrendered control of the property to larger shareholders.

from Wendell Berry - https://www.neh.gov/about/awards/jefferson-lecture/wendell-e-berry-biography