IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v15y1997i4p43-54.html
   My bibliography  Save this article

Constitutional Political Economy: Property Claims In A Dynamic World

Author

Listed:
  • DANIEL W. BROMLEY

Abstract

Constitutional political economy concerns the legal foundations of the market. One central component of that legal infrastructure relates to property rights over objects and circumstances. The idea of “takings” causes one to focus on the conditions under which regulatory actions call for compensation to those who imagine that their property rights have been taken. A dynamic economy is alleged here to be one in which legal processes must carry the burden of discovering when particular parties have an interest that can be said to constitute a property right requiring compensation. That is, objects and circumstances are not protected because they are “property.” Rather, those objects and circumstances that are protected become, by virtue of that protection, “property.” The task for the economist is to understand the perverse incentives to flow from a compensation requirement on all instances of institutional change concerning landed property. A further task is to incorporate a dynamic concept of property rights into general equilibrium models of economic systems.

Suggested Citation

  • Daniel W. Bromley, 1997. "Constitutional Political Economy: Property Claims In A Dynamic World," Contemporary Economic Policy, Western Economic Association International, vol. 15(4), pages 43-54, October.
    • Handle: RePEc:bla:coecpo:v:15:y:1997:i:4:p:43-54
    DOI: 10.1111/j.1465-7287.1997.tb00488.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1465-7287.1997.tb00488.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1465-7287.1997.tb00488.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Alexander James Field, 1979. "On the Explanation of Rules Using Rational Choice Models," Journal of Economic Issues, Taylor & Francis Journals, vol. 13(1), pages 49-72, March.
    2. Bromley, Daniel W., 1990. "The ideology of efficiency: Searching for a theory of policy analysis," Journal of Environmental Economics and Management, Elsevier, vol. 19(1), pages 86-107, July.
    3. North, Douglass C. & Thomas, Robert Paul, 1971. "The Rise and Fall of the Manorial System: A Theoretical Model," The Journal of Economic History, Cambridge University Press, vol. 31(4), pages 777-803, December.
    4. Douglass C. North & Robert Paul Thomas, 1970. "An Economic Theory of the Growth of the Western World," Economic History Review, Economic History Society, vol. 23(1), pages 1-17, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bromley, Daniel W., 2003. "Land-Use Policy as Volitional Pragmatism," Agricultural and Resource Economics Review, Cambridge University Press, vol. 32(1), pages 9-17, April.
    2. Bhaskar Vira, 2001. "Claiming Legitimacy: Analysing Conflict in the Environmental Policy Process," Environment and Planning C, , vol. 19(5), pages 637-650, October.
    3. Franklin Obeng-Odoom, 2012. "Natural resource abundance and eminent domain: A case study from Africa," Local Economy, London South Bank University, vol. 27(4), pages 319-325, June.
    4. Kissling-Naf, Ingrid & Bisang, Kurt, 2001. "Rethinking recent changes of forest regimes in Europe through property-rights theory and policy analysis," Forest Policy and Economics, Elsevier, vol. 3(3-4), pages 99-111, November.
    5. Therese C. Grijalva & Robert P. Berrens & Alok K. Bohara & Paul M. Jakus & W. Douglass Shaw, 2002. "Valuing the Loss of Rock Climbing Access in Wilderness Areas: A National-Level, Random-Utility Model," Land Economics, University of Wisconsin Press, vol. 78(1), pages 103-120.
    6. Loomis, John & Kent, Paula & Strange, Liz & Fausch, Kurt & Covich, Alan, 2000. "Measuring the total economic value of restoring ecosystem services in an impaired river basin: results from a contingent valuation survey," Ecological Economics, Elsevier, vol. 33(1), pages 103-117, April.
    7. Berrens, Robert P. & McKee, Michael & Farmer, Michael C., 1999. "Incorporating distributional considerations in the safe minimum standard approach: endangered species and local impacts," Ecological Economics, Elsevier, vol. 30(3), pages 461-474, September.
    8. Junaid Alam Memon & Gopal B. Thapa, 2015. "Explaining the de facto Open-access of Public Property Commons," PIDE-Working Papers 2015:114, Pakistan Institute of Development Economics.
    9. Kathleen Segerson, 1997. "Government Regulation And Compensation: Implications For Environmental Quality And Natural Resource Use," Contemporary Economic Policy, Western Economic Association International, vol. 15(4), pages 28-31, October.
    10. Daniel Bromley, 2004. "Reconsidering Environmental Policy: Prescriptive Consequentialism and Volitional Pragmatism," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 28(1), pages 73-99, May.
    11. Christian Schubert, 2006. "Fairness in Urban Land Use: An Evolutionary Contribution to Law & Economics," Papers on Economics and Evolution 2005-22, Philipps University Marburg, Department of Geography.
    12. Franklin Obeng-Odoom, 2013. "Windfalls, wipeouts, and local economic development: A study of an emerging oil city in West Africa," Local Economy, London South Bank University, vol. 28(4), pages 429-443, June.
    13. Shi, Tian, 2006. "Simplifying complexity: Rationalising water entitlements in the Southern Connected River Murray System, Australia," Agricultural Water Management, Elsevier, vol. 86(3), pages 229-239, December.
    14. Castle, Emery N., 2003. "Land, Economic Change, and Agricultural Economics," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), pages 1-15, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bromley, D.W., 1992. "Institutions and Institutional Change in National Economic Development," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 28.
    2. Runge, C. Ford, 1981. "Institutions and Common Property Externalities: The Assurance Problem in Economic Development," Faculty and Alumni Dissertations 206835, University of Minnesota, Department of Applied Economics.
    3. Ogilvie, Sheilagh & Carus, A.W., 2014. "Institutions and Economic Growth in Historical Perspective," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 8, pages 403-513, Elsevier.
    4. Sheilagh Ogilvie, 2007. "'Whatever Is, Is Right'?, Economic Institutions in Pre-Industrial Europe (Tawney Lecture 2006)," CESifo Working Paper Series 2066, CESifo.
    5. Robert W. Fogel, 2008. "The Impact of the Asian Miracle on the Theory of Economic Growth," NBER Chapters, in: Understanding Long-Run Economic Growth: Geography, Institutions, and the Knowledge Economy, pages 311-354, National Bureau of Economic Research, Inc.
    6. Medin, Hege & Nyborg, Karine & Bateman, Ian, 2001. "The assumption of equal marginal utility of income: how much does it matter?," Ecological Economics, Elsevier, vol. 36(3), pages 397-411, March.
    7. De Alessi, Michael & Sullivan, Joseph M. & Hilborn, Ray, 2014. "The legal, regulatory, and institutional evolution of fishing cooperatives in Alaska and the West Coast of the United States," Marine Policy, Elsevier, vol. 43(C), pages 217-225.
    8. Nils-Petter Lagerlof, 2002. "The Roads To and From Serfdom," Macroeconomics 0212011, University Library of Munich, Germany.
    9. Kryeziu Liridon & Coşkun Recai, 2018. "Political and Economic Institutions and Economic Performance: Evidence from Kosovo," South East European Journal of Economics and Business, Sciendo, vol. 13(2), pages 84-99, December.
    10. Palsson, Gisli, 1998. "The virtual aquarium: Commodity fiction and cod fishing," Ecological Economics, Elsevier, vol. 24(2-3), pages 275-288, February.
    11. Adelman, Irma, 1988. "Prometheus Unbound and Developing Countries," CUDARE Working Papers 198482, University of California, Berkeley, Department of Agricultural and Resource Economics.
    12. Valente, Simone, 2008. "Intergenerational transfers, lifetime welfare, and resource preservation," Environment and Development Economics, Cambridge University Press, vol. 13(1), pages 53-78, February.
    13. Daniel W. Bromley, 1982. "Land and Water Problems: An Institutional Perspective," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(5), pages 834-844.
    14. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.
    15. Fredrik Carlsson & Mitesh Kataria & Elina Lampi, 2011. "Do EPA Administrators Recommend Environmental Policies That Citizens Want?," Land Economics, University of Wisconsin Press, vol. 87(1), pages 60-74.
    16. Hahn, Thomas & McDermott, Constance & Ituarte-Lima, Claudia & Schultz, Maria & Green, Tom & Tuvendal, Magnus, 2015. "Purposes and degrees of commodification: Economic instruments for biodiversity and ecosystem services need not rely on markets or monetary valuation," Ecosystem Services, Elsevier, vol. 16(C), pages 74-82.
    17. Clark, Judy & Burgess, Jacquelin & Harrison, Carolyn M., 2000. ""I struggled with this money business": respondents' perspectives on contingent valuation," Ecological Economics, Elsevier, vol. 33(1), pages 45-62, April.
    18. Lambert, Thomas, 2021. "The Baran Ratio, Investment, and British Economic Growth and Investment," MPRA Paper 109546, University Library of Munich, Germany.
    19. Clive L Spash, 2009. "Social Ecological Economics," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2009-08, CSIRO Sustainable Ecosystems.
    20. Heibø Modalsli, Jørgen, 2011. "Solow meets Marx: Economic growth and the emergence of social class," Memorandum 21/2011, Oslo University, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:coecpo:v:15:y:1997:i:4:p:43-54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/weaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.