Given the inevitability of both market economy and distribution according to work, a socialist market economy becomes inevitable. Consequently, socialist public ownership exhibits a series of significant differences from public ownership in the advanced stage of communism, and correspondingly,...

Even if various factors unfavorable to the growth of capitalist economies are set aside, the average annual rates of economic growth in capitalist countries such as the United States, the United Kingdom, Japan, and India have historically been significantly lower than those in socialist...

The article examines the peculiarities of the exercise of freedom of contract and freedom of entrepreneurial activity by state-owned enterprises in the USSR under the conditions of the state monopoly in the production of property goods, planned regulation of production and administrative-command...

This article analyzes the key factors influencing the transformation of property relations in the current context of globalization and economic democratization. It examines examples of countries actively developing sharing and network-based property forms. The need for updating the methodology...

Biographical note: Carsten Herrmann-Pillath is Professor and Permanent Fellow at the Max Weber Centre for Advanced Cultural and Social Studies, University of Erfurt and a principal researcher at the COEVOLVERS project.

Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...

It is generally stated that the fractional-reserve banking system (FRBS) is consistent with sustainable economic growth and development. While it assumes that depositors will not be a joint demand who will claim all their money simultaneously, it supposes that a monetary aggregate greater than...

From public lands to beaches and to data, our society is rich with resources purposefully kept in the public domain. Common resources provide profound economic, social, and democratic value to individuals, communities, and society as a whole. These, however, depend on the public’s ability to...

This paper examines the dynamic connections between local wealth inequality and the local politics of property rights within a federal system. We model a jurisdiction comprising a politically dominant in-group and a marginalized out-group. At each date, the jurisdiction tries to redistribute...

Following Mises’s foundational paper, ‘Economic Calculation in the Socialist Commonwealth’, first published in 1920, writers in the Austrian tradition have argued that socialism is impossible, because under socialism there would be no private property in the means of production, and...

Montero (2022) explores a discontinuity in a land reform in El Salvador and reports two main findings. First, relative to outside-owned haciendas operated by contract workers, the productivity of worker-owned cooperatives is higher for staple crops and lower for cash-crop. Second, cooperative...

We analyze the effects of different types and concentration of ownership on performance using a population of firms in a model transition economy after mass privatization. Specifications based on first-differences and unusual instrumental variables show that contrary to conventional wisdom, the...

Commonsense wisdom holds that legal protection of private property rights is essential for economic growth. China presents a “puzzle” for commonsense wisdom. Scholars agree that China achieved tremendous growth in the past 40 years―without formal property law, and more specifically,...

Intellectual property law is not prepared for a world where non-humans create significant inventions, music, literature, and art. Generative artificial intelligence’s ability to produce valuable properties without attributable authorship defies the theories of ownership that underlie modern...

How should the law treat digital remains, namely, digital personal information of deceased people? Two rival conceptions compete over the best framing: property and privacy. Under property framing, digital remains are just another form of assets, subject to succession law; under privacy framing,...

In der vorliegenden Arbeit wird eine normative Analyse und Verteidigung der Erbschaftssteuer unternommen. Zunächst wird eine egalitaristische Argumentation für die Steuer entfaltet. Aufgrund ihrer progressiven Struktur ist die Erbschaftssteuer ein geeignetes Instrument, um der wachsenden...

"How Media Ownership Matters provides a new approach to understanding news media ownership, going beyond the typical emphasis on market concentration or media moguls to examine the influence of different forms of ownership on the production of news. The book identifies four broad ownership forms...

Different concentrations of Ce3+ -doped TeO2-WO3-GeO2-Ce2O3 (TWGCe) glasses were prepared by melt-quenching method and characterized. The spectroscopic and luminescence properties were evaluated using room temperature absorption and emission spectra. The absence of sharp x-ray diffraction peaks...

In recent years, Cu has been regarded as an important element to improve the corrosion resistance of stainless steels. For duplex stainless steels, especially those obtained by cold rolling and annealing processes, no research report on the effect of adding Cu element has been found so far....

Bismuth ferrite has recently been extensively studies as potential material for photovoltaic and photocatalytic applications as it provides wide opportunity to tune band-gap by site engineering with suitable elements. Further, this doping modified the optical and ferroelectric properties of...

How should we allocate property rights in unowned tangible and intangible resources? This Article develops a model of original acquisition that draws together common law doctrines of first possession with original acquisition doctrines in patent, copyright, and trademark law. The common...

The law of innovation balances private returns on investment against benefits to the public. Increasing intellectual property’s profitability acts as an inducement to spend money on research and testing, but threatens to increase costs to the public both directly and in terms of reduced...

We study public persuasion in elections, in which a monopoly designer or multiple competing designers attempt to influence the election outcome by manipulating public information about a payoff relevant state. We allow for a wide class of designer preferences, ranging from pursuing pure...

This Article examines property law’s effect on economic inequality, particularly centered on Thomas Piketty’s findings in Capital in the Twenty-First Century. Piketty finds that when the rate of return on capital is greater than economic growth, capital concentrates among the wealthy,...

This article argues that a liberal theory of property rights can help us resolve a century old debate about a foundational aspect of the trust, namely, the nature of the beneficiary’s interest. According to orthodoxy, the beneficiary has a (weak form) of proprietary right to the trust res. But...

Book review of: Ruiqiao Zhang, A Better Understanding of Common Law Ownership of Trust Property and its Introduction in China Through Comparative Studies. Guangzhou: World Publishing Guangdong Co Ltd, 2019

Property law has a boundary problem. Courts are routinely called upon to decide whether certain kinds of things can be owned—cells, genes, organs, gametes, embryos, corpses, personal data and more. Under prevailing contemporary theories of property law, questions like these have no justiciable...

This Brief and Pleasant Guide to NFTs and Copyright Law is written by Professor Michael D. Murray, the author of A Short and Happy Guide to Copyright Law (West 2d ed. 2022), and the principle investigator of the Blockchain, Cryptocurrency, NFTs, and the Metaverse Law Project at the University of...

As the use of fracking has spread during the recent oil and gas boom, inevitable conflicts have arisen between industry and its neighbors, particularly as fracking has moved into densely populated urban and suburban areas. Concerned over the impacts of fracking – such as risks to health and...

We show that armed actors refrain from using their power to arbitrarily steal from an economy if, and only if, the armed actors' property rights over stealing from that economy are secure. By 2009, armed actors taxed, administered, and protected various villages in Democratic Republic of the...