Property Arrangements and Consumer Behavior: An Analysis of Property Mechanisms that Incentivize Consumption

Author: Tao Weijun
Publisher:
Publish Date: 2006-03-01
Features: During the transformation period of China's economic and social system, on the one hand, consumption and investment show unbalanced growth, especially at relatively low-income levels, with the average propensity to consume of urban and rural residents in China remaining persistently low (so-called "China consumption puzzle"). On the other hand, property rights systems and consumption behaviors are in a state of flux. However, current research on property rights theory and consumption theory is separated. The main features of this book are: , new methods, and standardized discussions. The research in this book adheres to the tradition of Marxist economics in studying relationships, taking the relationship between people in the consumption economy, i.e., consumption relationships, as the main object of study. Property rights are essentially an economic relationship between people based on material objects. Second, the perspective is new, with outstanding innovation. Currently, research on consumption issues is often conducted from the perspectives of neoclassical economic theory and Marxist political economy. This book, however, studies consumption from the perspective of new institutional economics, arguing that property rights arrangements and consumption behaviors have an interactive relationship: property rights arrangements have the function of incentivizing people to consume, while consumption is an important means of incentivizing people to work.