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In order for a society to use its resources efficiently, property rights must be well defined, enforced, and transferable. By now, this basic conclusion of the modern property rights literature need...
It is commonly assumed that private property rights are incompatible with the preservation of such environmental and recreational amenities as our national parks and that governmental ownership is ...
During man’s relatively brief existence on this planet, he has relied on the bounty of its flora and fauna for his existence. He has harvested wildlife for food, clothing, shelter, medicines, beasts...
Introduction: Law as a Normative Discipline Law is a set of commands; the principles of tort or criminal law, which we shall be dealing with, are negative commands or prohibitions, on the order of ...
Approximately 628 million acres, or over one-fourth of the land area of the United States, is owned by the federal government. A predominant share of this land is located in the West. Over one-hal...
Introduction Murray Rothbard (1982) fails to place the Coase theorem in its proper intellectual perspective as a contribution to economics and misses the power of Coase’s observation. The ironic pa...
As interest rates begin to edge upward and rescheduling pushes the debt burdens of Brazil, Mexico, Argentina, and other large debtor nations into the future, it is of the utmost importance to rethin...
The Ideaof economic developmentdominates boththe aspirations and the public policy of most countries today. However only capS. talist countrIes have done something about it The United States, Weste...
I have been dealing with the insider trading issue for over 20 years. I am happy to report that the tone of the discussion has changed dramatically over those years as a new generation of legal and ...
I. Introduction Ronald Coase’s discussion of the railroad train strewing sparks as it steamed its way across the English countryside has had a profound effect on the way we think about the law.’ Th...
No, it isn’t done especially to torture people. A sentenced prisoner is a laboring soldier of socialism, so why should he be tortured? They need him for construction work. —Aleksandr I. Solzhenitsy...
Introduction The basic premise ofthis paper is the belief that ownership enhances economic performance. Aside from token reference to political stability, little or no reference is usually made to ...
One way or another, the world seems headed toward a legal order to allocate the increasingly scarce and valuable geosynchronons orbits. . . .Only with a wider sense of shared commitment and less na...
Only an emergency can justify repression. —Justice Brandeis The scope of private property rights in the United States has been greatly reduced during the 20th century. Much of the reduction occurr...
It is often nearerthe truth to say that capital is created in the process of economic development than that development is a function of capital accumulation. —P. T. Bauer

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