Property Economics: A Theory of Comparative Systems

Author: Svetozar
Publisher:
Publish Date: 2000-01-01
Features: Our country is currently in the period of economic system transition. In the process of moving from a planned economy to a market economy, we have encountered many contradictions and problems. How to design a good institutional framework, how to handle the triangular relationship between the state, market, and enterprises, and how to solve the issues of information and incentives are the most urgent fundamental problems that China must address. The essence of the problem lies in how to save institutional costs. Once this issue is resolved, China will embark on a path of institutional innovation with low transaction costs, sound market operation mechanisms, sensitive information, and rapid market expansion. This book is unique in both content and methodology. It is a work of property rights economics, yet also a work of comparative economic systems. The author incorporates the theory of property rights economics into the analysis of economic systems, particularly the planned economy system and its variants. For a long time, mainstream Western economists have primarily conducted research and comparison on planned economy systems based on neoclassical methodology. Such analysis, of course, has its elegance, but it lacks the depth of historical and cultural context.