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Use, Esteem, and Profit in Voluntary Provision: Toll Roads in California, 1850-1902

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  • Klein, Daniel B
  • Yin, Chi

Abstract

Early Californians took stock in toll roads for a variety of reasons: use of the road, esteem of fellows, and profits from stock. Whatever the motivation, in operation all toll road companies felt the profit motive. This paper presents a historical survey of voluntary organizations taking the stock-corporation form. These cases demonstrate how various motivations and incentives intermingled and supported one another in the days before the corporation was legally bifurcated into either 'for-profit' or 'not-for-profit' enterprise. Copyright 1996 by Oxford University Press.

Suggested Citation

  • Klein, Daniel B & Yin, Chi, 1996. "Use, Esteem, and Profit in Voluntary Provision: Toll Roads in California, 1850-1902," Economic Inquiry, Western Economic Association International, vol. 34(4), pages 678-692, October.
    • Handle: RePEc:oup:ecinqu:v:34:y:1996:i:4:p:678-92
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    Cited by:

    1. Bruce L. Benson, 2007. "Private Policing And Private Roads: A Coasian Approach To Drunk‐Driving Policy," Economic Affairs, Wiley Blackwell, vol. 27(4), pages 30-38, December.
    2. Peter A. Watt, 2003. "Voluntary Roads And Streets," Economic Affairs, Wiley Blackwell, vol. 23(2), pages 3-9, June.
    3. Rosolino A. Candela & Vincent J. Geloso, 2018. "The lightship in economics," Public Choice, Springer, vol. 176(3), pages 479-506, September.

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