Scandinavian Working Papers in Economics

Ratio Working Papers,
The Ratio Institute

No 18: Property Rights and Economic Growth

Nathan Rosenberg ()
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Nathan Rosenberg: Department of Economics, Postal: Stanford University, Landau Economics Building, 579 Serra Mall, Stanford, CA 94305-6072, USA

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

JEL-codes: D23; O40

18 pages, January 16, 2003

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