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Toward a Theory of Property Rights II: The Competition between Private and Collective Ownership

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  • Demsetz, Harold

Abstract

This essay broadens the theory of property rights, extending it beyond one based on changes in the importance of externality problems to one that is focused on quite different aspects of exchange. It argues that these aspects have been changing in ways that generally, but not always, have increased capitalism's productivity relative to collectivism's. The nature of transactions emphasized here has no necessary connection to, but does not exclude, externality problems. The focus here is on aspects of the relationship between parties who are engaged in exchange activities. Observations on historical happenings supplement the otherwise mainly conceptual and theoretical discussion. Copyright 2002 by the University of Chicago.

Suggested Citation

  • Demsetz, Harold, 2002. "Toward a Theory of Property Rights II: The Competition between Private and Collective Ownership," The Journal of Legal Studies, University of Chicago Press, vol. 31(2), pages 653-672, June.
    • Handle: RePEc:ucp:jlstud:v:31:y:2002:i:2:p:s653-72
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    Cited by:

    1. Marcus Matthias Keupp, 2021. "Defense Economics," Springer Books, Springer, number 978-3-030-73815-0, January.
    2. Joireman, S.F., 2008. "The Mystery of Capital Formation in Sub-Saharan Africa: Women, Property Rights and Customary Law," World Development, Elsevier, vol. 36(7), pages 1233-1246, July.
    3. Ehwi, Richmond Juvenile & Mawuli, Divine Asafo, 2021. "‘Landguardism’ in Ghana: Examining public perceptions about the driving factors," Land Use Policy, Elsevier, vol. 109(C).
    4. Mouzas, Stefanos, 2022. "What drives business transformation? Evidence from manufacturer-retailer networks," Journal of Business Research, Elsevier, vol. 143(C), pages 282-293.
    5. Pesci, Caterina & Costa, Ericka & Andreaus, Michele, 2020. "Using accountability to shape the common good," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 67.
    6. Jason Coupet & Abagail McWilliams, 2017. "Integrating Organizational Economics and Resource Dependence Theory to Explain the Persistence of Quasi Markets," Administrative Sciences, MDPI, vol. 7(3), pages 1-13, August.
    7. van der Lugt, Larissa M. & Rodrigues, Suzana B. & van den Berg, Roy, 2014. "Co-evolution of the strategic reorientation of port actors: insights from the Port of Rotterdam and the Port of Barcelona," Journal of Transport Geography, Elsevier, vol. 41(C), pages 197-209.
    8. Granville, Brigitte & Leonard, Carol S., 2010. "Do Informal Institutions Matter for Technological Change in Russia? The Impact of Communist Norms and Conventions, 1998-2004," World Development, Elsevier, vol. 38(2), pages 155-169, February.
    9. Quinn, C.H. & Fraser, E.D.G. & Hubacek, K. & Reed, M.S., 2010. "Property rights in UK uplands and the implications for policy and management," Ecological Economics, Elsevier, vol. 69(6), pages 1355-1363, April.
    10. Dugasseh, Frank Akowuge & Aapengnuo, Clement & Zandersen, Marianne, 2021. "Land tenure regimes for women in Community Resource Management Areas (CREMAs) in Northern Ghana: Opportunities and threats," Land Use Policy, Elsevier, vol. 109(C).
    11. Cheung, K.S. & Wong, S.K. & Wu, H. & Yiu, C.Y., 2021. "The land governance cost on co-ownership: A study of the cross-lease in New Zealand," Land Use Policy, Elsevier, vol. 108(C).
    12. Young, Andrew T., 2018. "Hospitalitas: Barbarian settlements and constitutional foundations of medieval Europe," Journal of Institutional Economics, Cambridge University Press, vol. 14(4), pages 715-737, August.
    13. Yang, Chen & Qian, Zhu, 2022. "The complexity of property rights embedded in the rural-to-urban resettlement of China: A case of Hangzhou," Land Use Policy, Elsevier, vol. 122(C).
    14. Nagase, Yoko & Uehara, Takuro, 2011. "Evolution of population-resource dynamics models," Ecological Economics, Elsevier, vol. 72(C), pages 9-17.
    15. Basu, Sudipta & Kirk, Marcus & Waymire, Greg, 2009. "Memory, transaction records, and The Wealth of Nations," Accounting, Organizations and Society, Elsevier, vol. 34(8), pages 895-917, November.
    16. Drivas, Kyriakos & Lei, Zhen & Wright, Brian D., 2017. "Academic patent licenses: Roadblocks or signposts for nonlicensee cumulative innovation?," Journal of Economic Behavior & Organization, Elsevier, vol. 137(C), pages 282-303.
    17. Marcus Matthias Keupp, 2021. "Opportunities for Reform," Springer Books, in: Defense Economics, chapter 0, pages 115-134, Springer.

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