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Razorbacks, Ticky Cows, and the Closing of the Georgia Open Range: The Dynamics of Institutional Change Uncovered

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  • Kantor, Shawn Everett

Abstract

This article attempts to explain why the adoption of potentially productive institutions is delayed and why inefficient ones persist by exploring the dynamics of institutional change in a particular historical case—the closing of the Georgia open range in the late nineteenth century. A closed range policy would have generated net benefits for specific regions of Georgia, but distributional conflicts, coupled with high transaction costs, made a voluntary agreement to do that unattainable. The article describes the Georgia legislature's important role in facilitating the adoption of a policy that led to more rapid agricultural development in the postbellum period.

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  • Kantor, Shawn Everett, 1991. "Razorbacks, Ticky Cows, and the Closing of the Georgia Open Range: The Dynamics of Institutional Change Uncovered," The Journal of Economic History, Cambridge University Press, vol. 51(4), pages 861-886, December.
    • Handle: RePEc:cup:jechis:v:51:y:1991:i:04:p:861-886_04
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    Cited by:

    1. Clay, Karen, 1997. "Trade, Institutions, and Credit," Explorations in Economic History, Elsevier, vol. 34(4), pages 495-521, October.

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