The purpose of this book is to redirect study of what are called comparative economic systems toward analysis of the development of institutions and the effects of alternative institutional arrangements on economic performance. To that end, the book internalizes into a theoretical framework the...

Economic Analysis of Institutions and Systems aims to redirect the study of what was previously referred to as comparative economic systems toward analysis of the history and development of institutions, and the effects of alternative institutional arrangements on economic behavior. To this end,...

One. Rights, Institutions, and Public Policy -- 1. Man and the State -- 2. The Market and The Metamarket -- 3. The Limits of Economic Policy -- Two. Socialism: Philosophical Issues -- 4. Is Socialism Inevitable? Historical Prophecy and the Possibilities of Reason -- 5. Socialism: Do The Ends...

Property rights formalize the relationship between individuals and goods. They form the cornerstone of the pricing, supply and efficient allocation of scarce resources between individuals. The Economic Foundations of Property Rights is an outstanding collection of some of the most important work...