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Nationbuilding 101: Property, Liberty, and Corporate Governance

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  • O. Lee Reed

Abstract

Nationbuilders in less developed countries need to understand how Western legal systems with "property" at their center have materially accounted for Western prosperity and liberty, but legal definitions of property are so abstruse that explication of this vital concept is made difficult. This paper finds an historical definitional essence to property in the right to exclude and maintains that liberty and property both share this essential meaning. The problems of corporate governance are then placed in the context of the exclusionary concept of property/liberty.

Suggested Citation

  • O. Lee Reed, 2003. "Nationbuilding 101: Property, Liberty, and Corporate Governance," William Davidson Institute Working Papers Series 528, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:2003-528
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    Keywords

    property; property rights; development and property; liberty; and corporate governance;
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