Property Rights

2019 ◽  
pp. 611-614
Author(s):  
Thomas Apolte
Keyword(s):  
Property Rights ◽  
Market Economy ◽  
Significant Role ◽  
Economic Efficiency ◽  
Private Property ◽  
Resource Acquisition ◽  
Economic Competition ◽  
Private Property Rights ◽  
Ownership Structures ◽  
Distribution Of Wealth

Creation of ownership structures under private law as well as market liberalization can be seen as central to transformation. This chapter examines how private property rights, among others, encourage economic efficiency, strengthen economic competition, make businesses subject to the discipline of the market, and create a capital market. The emergence and development of a property rights structure at a given point in time is always also the result of a conflictual history. One of the advantages of a developed market economy is that conflictual resource acquisition lies in the past and has ceased to play a significant role in the recognition of the existing distribution of wealth. It is astonishing how little conflict was caused by post-socialist privatization.

scholarly journals Privatization in economic theory

2007 ◽  
Vol 54 (1) ◽  
pp. 103-118 ◽  
Author(s):  
Maja Drakic
Keyword(s):  
Property Rights ◽  
Economic System ◽  
Market Economy ◽  
Private Property ◽  
Choice Theory ◽  
Free Market ◽  
Mass Scale ◽  
Equilibrium Models ◽  
Dominant Form ◽  
Private Property Rights

In reality privatization has never occurred according to the handbook rules of ordinary market transactions. Not even in advanced market economies can privatization transactions be described by the Walrasian or Arrowian, or Leontiefian equilibrium models, or by the equilibrium models of the game theory. In these economies transactions of privatization take place in a fairly organic way ? which means that those are driven by the dominance of private property rights and in a market economy. But despite this fact Western privatization also some peculiar features as compared to ordinary company takeovers, since the state as the seller may pursue non ? economic goals. Changes in the dominant form of property change positions and status of many individuals and groups in the society. That?s why privatization can even less be explained by ordinary market mechanisms in transition countries where privatizing state-owned property have happened in a mass scale and where markets and private property rights weren't established at the time process of privatization began. In this paper I?ll discuss and analyze the phenomenon of privatization in context of different economic theories arguing that empirical results go in favor of the public choice theory (Buchanan, 1978), theory of "economic constitution" (Brennan and Buchanan 1985), (Buchanan and Tullock, 1989), and theory of "collective action" (Olson, 1982). These theories argues that transition from one economic system into another, for example transition from collectivistic, socialistic system into capitalism and free market economy with dominant private property, will not happen through isolated changes of only few economic institutions, no matter how deep that changes would be. In other words privatization can not give results if it's not followed by comprehensive change of economic system because privatized companied wouldn't be able to operate in old environment.

The Economic and Political Liberalization of Socialism: The Fundamental Problem of Property Rights

1993 ◽  
Vol 10 (2) ◽  
pp. 79-102 ◽  
Author(s):  
William H. Riker ◽  
David L. Weimer
Keyword(s):  
Property Rights ◽  
Market Economy ◽  
Private Property ◽  
Fundamental Problem ◽  
Political Regime ◽  
Political Liberalization ◽  
Private Property Rights ◽  
Political Experience ◽  
Collective Goods ◽  
Neoclassical Economic Theory

All our previous political experience, and especially, of course, the experience of Eastern Europe and Central Asia, offers little hope that democracy can coexist with the centralized allocation of economic resources. Indeed, simple observation suggests that a market economy with private property rights is a necessary, although not sufficient, condition for the existence of a democratic political regime. And this accords fully with the political theory of liberalism, which emphasizes that private rights, both civil and economic, be protected and secure. At the same time, our previous experience also indicates that market economies are more successful than centrally planned economies not only in producing, but also in distributing, both private and collective goods. This economic experienee is supported by neoclassical economic theory, which treats clearly defined and secure rights to private property as essential to a market economy.

The Market Economy

2020 ◽  
pp. 119-138
Author(s):  
Kevin Vallier
Keyword(s):  
Economic Growth ◽  
Property Rights ◽  
Market Economy ◽  
Real World ◽  
Essential Role ◽  
Private Property ◽  
Political Trust ◽  
Central Feature ◽  
Private Property Rights ◽  
The Right

The market economy can create trust for the right reasons. Markets and property rights promote social and political trust in the real world by creating social cohesion through exchange and generating economic growth. Markets also arise from private property rights, which are publicly justified based on the essential role private property rights play in protecting individual rights and the rights of associations. This includes private property rights in capital, that is, productive property, which means that a broadly market-based economy will be a central feature in any society that maintains high levels of social and political trust in the right ways.

Environmental Impacts of Enhanced Private Property Rights

2002 ◽  
Vol 13 (3) ◽  
pp. 367-381
Author(s):  
Ross McKitrick ◽  
Timothy Shufelt
Keyword(s):  
Developing Countries ◽  
Property Rights ◽  
Data Base ◽  
Market Economy ◽  
Transition Economies ◽  
Private Property ◽  
Cross Sectional ◽  
Political Factors ◽  
Private Property Rights ◽  
International Data

There has been concern in western countries over whether strong private property rights empower polluters to the detriment of other citizens. This debate is now playing out in transition economies and developing countries, where the process of moving to a market economy involves strengthening property rights. We review the conflicting arguments and test them using a new international data base. After controlling for income, education and political factors we find that cross-sectional differences in property rights regimes explain some international differences in pollution rates, but changes in property rights laws within a country do not seem to affect emissions.

scholarly journals Institutional Setup in Market Economy and Islamic Property Rights

2018 ◽  
Vol III (I) ◽  
pp. 12-20
Author(s):  
Noor Fatima ◽  
Muhammad Zubair ◽  
Zubair Sarfaraz
Keyword(s):  
Property Rights ◽  
Economic System ◽  
Market Economy ◽  
Free Trade ◽  
Private Property ◽  
Essential Element ◽  
Property Right ◽  
Base System ◽  
Distribution Of Wealth ◽  
Islamic Economic

This paper argues that there is an ever-growing demand to correlate between Islam and Economics. Property-right and ownership is the basic concept of the modern economic structure of a liberal economic system. A property right is well explained in Islam and that also an essential element for the market economy, this paper discusses the Islamic perspective of property rights and how far it is complementary with the market economy. Since property rights of Islam are central to the structure of the economic system, Islam also emphasizes on economically good life depends on free trade. Free trade demands a recognized system of property rights, as a market base system demands a healthy competition of commodities, which ultimately needs private property rights for the protection of capital of producers and owners. The distribution of wealth is the main argument of the Islamic Economic System, which helps states in the fair distribution of resources.

LAND PLOT AS AN OBJECT OF PRIVATE PROPERTY RIGHTS

2020 ◽  
Author(s):  
Vyacheslav Vovk
Keyword(s):  
Property Rights ◽  
Land Management ◽  
Land Reform ◽  
Essential Role ◽  
Private Property ◽  
Rich Country ◽  
Private Property Rights ◽  
Land Plot ◽  
Government Supervision

Russia is a resource-rich country, and great changes are being made today in order that land and its resources are used for the benefit of any citizen of our state. Under the circumstances government supervision (control) over the optimal use of territories gets the essential role. The rights that are contained in land reform give owners, landowners, land users, and employers extensive powers concerning independent land management.

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