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020 _a9780585285573
_9978-0-585-28557-3
024 7 _a10.1007/b102393
_2doi
050 4 _aHD72-88
072 7 _aKCG
_2bicssc
072 7 _aBUS068000
_2bisacsh
072 7 _aKCG
_2thema
082 0 4 _a338.9
100 1 _aPejovich, S.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
245 1 4 _aThe Economics of Property Rights
_h[electronic resource] :
_bTowards a Theory of Comparative Systems /
_cby S. Pejovich.
250 _a1st ed. 1990.
264 1 _aDordrecht :
_bSpringer Netherlands :
_bImprint: Springer,
_c1990.
300 _aXIV, 204 p. 1 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aInternational Studies in Economics and Econometrics,
_x0924-5170 ;
_v22
505 0 _aEconomic Systems, Institutions and Scarcity -- Scarcity, Institutions and Economic Behavior -- The Rise of Capitalism -- The Rise of Socialism -- The Private-Property Free-Market Economy -- Basic Institutions of Capitalism -- Exchange in a Private Property Capitalist Economy -- Production in a Private Property Capitalist Economy -- The Right of Ownership and the Firm -- The Attenuated Right of Ownership and the Firm -- The Role of Financial Markets in a Private-Property, Free-Market Economy -- The Soviet-Type Economy -- The History and Development of the Soviet Union Through the 1980S -- Basic Institutions of the Soviet-Type Economy: State Ownership -- Basic Institutions of the Soviet-Type Economy: Economic Planning -- Basic Institutions of the Soviet-Type Economy: The Political and Economic Monopoly of the Politburo -- The Behavior of the Soviet-Type Firm -- Performance of the Soviet-Type Economy -- Toward the End of the Soviet-Type Economy -- The Yugoslav-Type Economy -- Basic Institutions of the Labor-Managed Economy -- The Behavior of the Labor-Managed Firm -- Failure of the Labor-Managed Type Economy.
520 _aTo understand recent developments in Eastern Europe requires a method of analysis that is capable of internalizing into a theoretical framework (i) the logical premises deduced from the costs of transactions and incentive structures generated by various institutions and (ii) the evidence for refutable implications of those premises. The economics of property rights is such a theory. It expands the scope of the ability of economic analysis to explain a wide range of institutional structures and provides empirical corroboration of its logical implications. The economics of property rights is, then, an effective scholarly instrument that offers more significant understanding of the three current issues in the area of comparative economic studies: (i) evaluating the performance of alternative institutional arrangements, (ii) explaining the failure of socialist institutions in Eastern Europe, and (iii) identifying the costs (political as well as economic) of institutional reforms in that part of the world. In that sense, the book is both timely and relevant. In the late 1980s East Europeans crossed the threshold of fear and forced their leaders to abandon Marxism. With that theory of history dead and buried, the cost of current sacrifices in the pursuit of socialism has risen relative to the present value of its expected future benefits.
650 0 _aEconomic growth.
650 0 _aPolitical science.
650 0 _aEconomics.
650 0 _aManagement science.
650 1 4 _aEconomic Growth.
_0https://scigraph.springernature.com/ontologies/product-market-codes/W44000
650 2 4 _aPolitical Science.
_0https://scigraph.springernature.com/ontologies/product-market-codes/911000
650 2 4 _aEconomics, general.
_0https://scigraph.springernature.com/ontologies/product-market-codes/W00000
710 2 _aSpringerLink (Online service)
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9789401740890
776 0 8 _iPrinted edition:
_z9789401740883
776 0 8 _iPrinted edition:
_z9780792308782
830 0 _aInternational Studies in Economics and Econometrics,
_x0924-5170 ;
_v22
856 4 0 _uhttps://s443-doi-org.br.lsproxy.net/10.1007/b102393
912 _aZDB-2-SBE
912 _aZDB-2-SXEF
912 _aZDB-2-BAE
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999 _c378107
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