Abstract
Kawashima’s theory on property right discusses “ownership as capital” in the final chapter. It makes an analysis of three categories: private ownership, contract, and person, as the composition of market system, in which the element of “individual” as a living personality is cut off. Property right on capital is the world which is blind to the whole historical development of ownership. In its conclusion, the theory warned about the possible risk that legal interpretation of abstract property right on capital could degenerate into a reactionary dogma. Now, this risk becomes realized in the world of economics which carries out a through cost analysis such as transaction cost or agency cost based on homo-economics hypothesis and also in the world of jurisprudence which blindly accept it. By exposing the risk of having a vulgar view on company system, which is the union of market and company, and a risk factor of losing sight of the image of a living person, this speech proposes the formulation of fundamental theories to escape such a risk.
