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A spectre is haunting the world - the spectre of global capitalism

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Author Info
William Kingston () (School of Business Studies, Trinity College, Dublin, Ireland)
Abstract

Individual property rights are fruitful for economic development because they civilise self-interest by forcing it to serve the common good. The history of previous property rights "cycles," however, shows that their ability to do this deterioriates over time because the laws of property fall under the control of those whom property is meant to discipline. Irresponsible ownership then intensifies inequality until a breaking point is reached. The present cycle is no exception, but its breaking point has been postponed by the growth of the democratically-inspired welfare state.

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Publisher Info
Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 10 (2000)
Issue (Month): 1 ()
Pages: 83-108
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Handle: RePEc:spr:joevec:v:10:y:2000:i:1:p:83-108

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Related research
Keywords: Property rights - Globalisation - World Trade Organisation - Schumpeter;

Find related papers by JEL classification:
A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
K00 - Law and Economics - - General - - - General (including Data Sources and Description)
P10 - Economic Systems - - Capitalist Systems - - - General

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This page was last updated on 2010-1-7.


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