Razorbacks, Ticky Cows, and the Closing of the Georgia Open Range: The Dynamics of Institutional Change Uncovered
1991 ◽
Vol 51
(4)
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pp. 861-886
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Keyword(s):
This article attempts to explain why the adoption of potentially productive institutions is delayed and why inefficient ones persist by exploring the dynamics of institutional change in a particular historical case—the closing of the Georgia open range in the late nineteenth century. A closed range policy would have generated net benefits for specific regions of Georgia, but distributional conflicts, coupled with high transaction costs, made a voluntary agreement to do that unattainable. The article describes the Georgia legislature's important role in facilitating the adoption of a policy that led to more rapid agricultural development in the postbellum period.
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1987 ◽
Vol 47
(3)
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pp. 671-691
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2020 ◽
Vol 10
(1)
◽
pp. 194-222
2013 ◽
Vol 39
(5)
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pp. 1169-1187
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Keyword(s):
Keyword(s):
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