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2 edition of The form of property rights found in the catalog.

The form of property rights

oligarchic vs. democratic societies

by Daron Acemoglu

  • 180 Want to read
  • 13 Currently reading

Published by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA .
Written in English


About the Edition

This paper develops a model where there is a trade-off between the enforcement of the property rights of different groups. An oligarchic society, where political power is in the hands of major producers, protects their property rights, but also tends to erect significant entry barriers, violating the property rights of future producers. Democracy, where political power is more widely diffused, imposes redistributive taxes on the producers, but tends to avoid entry barriers. When taxes in democracy are high and the distortions caused by entry barriers are low, an oligarchic society achieves greater efficiency. Nevertheless, because comparative advantage in entrepreneurship shifts away from the incumbents, the inefficiency created by entry barriers in oligarchy deteriorates over time. The typical pattern is therefore one of the rise and decline of oligarchic societies: of two otherwise identical societies, the one with an oligarchic organization will first become richer, but later fall behind the democratic society. I also discuss how democratic societies may be better able to take advantage of new technologies, and how the unequal distribution of income in an oligarchic society supports the oligarchic institutions and may keep them in place even when they become significantly costly to society. Keywords: democracy, economic growth, entry barriers, oligarchy, political economy, redistribution, sclerosis. JEL Classifications: P16, O10.

Edition Notes

Statement[by] Daron Acemoglu
SeriesWorking paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 03-34, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 03-34.
ContributionsMassachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination44, [1] p. :
Number of Pages44
ID Numbers
Open LibraryOL24646536M
OCLC/WorldCa55214900

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The form of property rights by Daron Acemoglu Download PDF EPUB FB2

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But if the common law of property defines and protects private rights — the rights of owners with respect to each other — it also serves as a guide for the proper scope and limits of public. Form is a tax form distributed by the Internal Revenue Service (IRS).

Form is used to report gains made from the sale or exchange of business property, including property used to. Property rights establish relationships among participants in any social and economic system. Holding the rights to property is an expression of the relative power of the bearer.

Holding such power or rights commands certain responses by others that are enforced by the community or our culture. For example, a producer owning acres of. Economic rights. With any kind of property, its owner may decide how it is to be used, and others can use it lawfully only if they have the owner's permission, often through a license.

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Property law is the area of law that governs the various forms of ownership in real property (land) and personal ty refers to legally protected claims to resources, such as land and personal property, including intellectual property. Property can be exchanged through contract law, and if property is violated, one could sue under tort law to protect it.

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