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What is Property Rights

Comparative Approaches to Old and New Institutional Economics
The owner of a property can be done by this. Economically, what kind of economics model, technology of production can be done.
Published in Chapter:
From Old Institutional Economics to New Institutional Economics: A Short History
Ilkben Akansel (Bartin University, Turkey)
Copyright: © 2020 |Pages: 24
DOI: 10.4018/978-1-7998-0333-1.ch001
Abstract
Since different kinds of economics thoughts have been explored, few have been as peculiar as Old Institutional Economics (OIE) and New Institutional Economics (NIE). It is curious that almost every stream criticizing mainstream economics has a left wing. OIE, not a big fan of this, criticizes neoclassical economics/mainstream economics, given it arose in the US. OIE had no sense to left wing, on the contrary, it created an effect criticizing neoclassical economics in its core. Unlike OIE, NIE has many common points with neoclassical economics. NIE has several new aspects different from neoclassical economics, as it has chosen a completely different path than OIE. In this chapter, authors scrutinize circumstances that led to OIE, and what separated OIE and NIE. A brief, successively historical aspect is also provided.
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Introduction to Faith in State Legislatures: America as a Religious Refuge
A belief that people should be able to acquire, own, and use goods and assets free from government constraints as long as this use does not interfere with the rights of others.
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Green Currency Based on Blockchain Technology for Sustainable Development
The rights of an owner over the property. As property rights of the environment, green assets, and public goods or common goods are not well defined it hinders economic efficiency. So, to enhance economic efficiency green assets possessed by individuals, firms, governments, or organizations must be calculated and an asset value must be assigned to the owner. Due to negative externality, too much of the good will be produced as the market price does not reflect external costs.
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