Two problems though. First, most of the land available was not acquired on a "first occupier" basis. Secondly, and this is a problem (arguably) with both systems is that land can be over-claimed causing those who must make use of the land bound into serfdom to those who "own" the land. A third potential conflict is with those who have no need or want to "own" land but only to make use of it on an occasional basis (nomads, cattle drivers etc).

As a libertarian, I have difficulty reconciling this. Personal property, no problem. But real property and "intellectual property" are much more thorny issues and it harms the discussion that people tend to knee-jerk their responses (even those whose arguments I usually otherwise admire). I think the system we have at the moment is probably "good enough" but in a purely intellectual consideration, I assert that it's "not easy" to answer.