The central issue in this paper is the effect of alternative property rights on the flow of innovation. The line of reasoning in the paper is exampled by reference to the Yugoslav e conomy. The paper concludes that labor participation in management co llectivizes innovation, a purely individual...

In the early 1990s, Central and Eastern Europe countires (C&EE) began transition into free-market, private-property economies. Thirteen years later, the Index of Economic Freedom published annually by the Heritage Foundation and the Wall Street Journal lists only one country in the region as a...

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...