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Chinese customs and law have traditionally prevented a land seller from conveying outright title to a buyer. The ancient custom of dian, which persisted until the 1949 Revolution, gave a land seller and his lineage an immutable option to buy back sold land at the original sale price. This...
Persistent link: https://www.econbiz.de/10014176019
In a given year, a resident of the United States is roughly twice more likely to move to a different home than is a resident of France (or of Western Europe as a whole). Cultural differences undoubtedly account for some of this gap. The central thesis of this article, however, is that much of...
Persistent link: https://www.econbiz.de/10014205609
Since the 1970s a new vehicle for the provision of housing assistance - the mixed-income, or inclusionary, project - has flowered in the United States. In a community of this sort, the developer and its government benefactors designate a fraction of the dwelling units, typically between 10 and...
Persistent link: https://www.econbiz.de/10014215864
Only yesterday, all animals were wild. Zoological archaeologists assert that about 15,000 years ago, our hunter-gatherer forebears achieved the first domestication — the dog. Over the course of ensuing millennia, they proceeded to domesticate sheep, cattle, and other livestock. By the advent...
Persistent link: https://www.econbiz.de/10014159384
Most economists believe that strict rent controls deter the production and maintenance of rental housing. In a Métropolitiques essay, Loïc Bonneval challenged this consensus. Bonneval claimed that France’s severe interwar rent controls had little effect on the profitability of real estate...
Persistent link: https://www.econbiz.de/10014107687
Commentators rightly decry the excessive segregation of American neighborhoods by race and social class. If all demographic groups were randomly distributed throughout a metropolitan area, however, there would be great diversity within each neighborhood, but no diversity among them. There is...
Persistent link: https://www.econbiz.de/10014058627
Murray Rothbard and other anarcho-capitalists would abolish all governments. Individuals instead would voluntarily subscribe to the services of one of a number of competing private protective associations. This vision is a pipe dream. Building on the ideas of small-government classical liberals...
Persistent link: https://www.econbiz.de/10012964598
Viewing property rights as a “bundle of sticks” can be descriptively clarifying because the law commonly entitles an owner of a particular resource to split up entitlements in it. Nonetheless, Thomas Merrill and Henry Smith, the most prominent critics of the metaphor, assert that this...
Persistent link: https://www.econbiz.de/10013117144