Economic Foundations of Property Rights: Selected Readings

Author: Svetozar Pejdvich
Published: January 1997
ISBN: 1858985439
Hardcover Book
Number of Pages: 320

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Twenty-one articles are reproduced in facsimile from journals such as "Economic Inquiry, Southern Economic Journal", and "Journal of Law and Economics", as well as other sources. They address the development of property rights, the effects of property rights on the allocation of resources, and the link between alternative property rights and the production of wealth. Intended for economists, political scientists, and those interested in public choice theory. .

Table of Contents
Acknowledgements
List of contributors
Preface
Pt. I Property Rights: Definition and Economic Significance
1 Introduction to Chapters 2, 3, 4 and 5 3
2 'Some Implications of Recognition of Property Right Transactions Costs' 7
3 Extracts from 'Property' 29
4 'Freedom and the Rule of Law' 47
5 'Politics, Property, and the Law: An Alternative Interpretation of Miller et al. v. Schoene' 66
Pt. II How and Why Do Property Rights Develop?
6 Introduction to Chapters 7, 8 and 9 83
7 'Institutions, Economic Growth and Freedom: An Historical Introduction' 86
8 'Privatizing the Commons: An Improvement?' 109
9 'Might Makes Rights: A Theory of the Formation and Initial Distribution of Property Rights' 122
Pt. III The Economic Theory of Property Rights
10 Introduction to Chapters 11, 12, 13, 14 and 15 147
11 'How Should Prices be Set?' 150
12 'Transaction Cost Determinants of "Unfair" Contractual Arrangements' 164
13 'Measurement Cost and the Organization of Markets' 171
14 'Property Rights and Technological Innovation' 193
15 'The Firm is Dead; Long Live the Firm: A Review of Oliver E. Williamson's The Economic Institutions of Capitalism' 206
Pt. IV Property Rights and Economic Performance
16 Introduction to Chapters 17, 18, 19, 20 and 21 223
17 'Black Africa: Free or Oppressed?' 225
18 'A Public Choice View of Transition in Eastern Europe' 236
19 'Institutions, Nationalism, and the Transition Process in Eastern Europe' 254
20 'Pricing and Property: The Chinese Puzzle' 268
21 'The Limits of Economic Policy' 275
Name Index 297

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