This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed...

This article aims to begin to fill a gap in the literature by offering a comprehensive critique of Douglass North’s work with emphasis on his historical studies. After a brief overview of his theoretical contributions, a closer scrutiny of his theory in its application to history is...