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The Economics of Property Rights

Towards a Theory of Comparative Systems

  • Book
  • © 1990

Overview

Authors:
  1. Svetozar Pejovich

    1. The Center for Education and Research in Free Enterprise, Texas A&M University, College Station, USA

Part of the book series: International Studies in Economics and Econometrics (ISEE, volume 22)

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About this book

To understand recent developments in Eastern Europe requires a method of analysis that is capable of internalizing into a theoretical framework (i) the logical premises deduced from the costs of transactions and incentive structures generated by various institutions and (ii) the evidence for refutable implications of those premises. The economics of property rights is such a theory. It expands the scope of the ability of economic analysis to explain a wide range of institutional structures and provides empirical corroboration of its logical implications. The economics of property rights is, then, an effective scholarly instrument that offers more significant understanding of the three current issues in the area of comparative economic studies: (i) evaluating the performance of alternative institutional arrangements, (ii) explaining the failure of socialist institutions in Eastern Europe, and (iii) identifying the costs (political as well as economic) of institutional reforms in that part of the world. In that sense, the book is both timely and relevant. In the late 1980s East Europeans crossed the threshold of fear and forced their leaders to abandon Marxism. With that theory of history dead and buried, the cost of current sacrifices in the pursuit of socialism has risen relative to the present value of its expected future benefits.

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Table of contents (19 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Economic Systems, Institutions and Scarcity

    1. Front Matter

      Pages 1-1
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    2. Scarcity, Institutions and Economic Behavior

      Pages 3-6

    3. The Rise of Capitalism

      Pages 7-13

    4. The Rise of Socialism

      Pages 15-23
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Authors and Affiliations

  • The Center for Education and Research in Free Enterprise, Texas A&M University, College Station, USA

    Svetozar Pejovich

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Bibliographic Information

  • Book Title: The Economics of Property Rights

  • Book Subtitle: Towards a Theory of Comparative Systems

  • Authors: Svetozar Pejovich

  • Series Title: International Studies in Economics and Econometrics

  • DOI: https://doi.org/10.1007/b102393

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media Dordrecht 1990

  • Softcover ISBN: 978-94-017-4089-0Published: 13 November 2013

  • eBook ISBN: 978-0-585-28557-3Published: 20 August 2007

  • Series ISSN: 0924-5170

  • Edition Number: 1

  • Number of Pages: XIV, 204

  • Number of Illustrations: 1 b/w illustrations

  • Topics: Economic Growth, Political Science, Economics, general

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