According to economic theory, the clear definition of property rights is essential for well-functioning markets … adding to the economist's parsimonious theory. Economic institutions and activities need not be subsumed within purely … modern economic theory of property. The theory traces back to nineteenth- and twentieth-century historical and social …

liberal theory, one that emerges as a by-product of political exchange and entrepreneurship (Wagner 1966). From a … from Burnham’s The Machiavellians (1943), I will offer a constitutional theory of property rights grounded in classical …