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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 E.

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 E., 1990. "Razorbacks, Ticky Cows, and the Closing of the Georgia Open Range: The Dynamics of Institutional Change Uncovered," Working Papers 723, California Institute of Technology, Division of the Humanities and Social Sciences.
    • Handle: RePEc:clt:sswopa:723
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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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