Ratio Working Papers
Property Rights and Economic Growth
Abstract: My main purpose is to connect the issue of property rights
to the set of questions concerning economic growth and the long-term
determinants of the improvements in material well-being. To anticipate what
will be my main conclusion, it is that property rights and economic growth
are not separable. But that statement, by itself, is not very interesting.
What is important is not my eventual conclusion but how I come to arrive at
that conclusion. And I should warn you in advance that I will arrive at
that conclusion via an unconventional pathway, and that our guide along
that pathway - at least our initial guide - will be Karl Marx.
Keywords: economic growth; property rights; entrepreneurship; institutions; (follow links to similar papers)
JEL-Codes: D23; O40; (follow links to similar papers)
18 pages, January 16, 2003
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