The Importance of Property Rights (revisited)
Nearly a year ago, I wrote,
An important extension of the Coase Theorem for economic policy makers is that the creation of well-defined and easily enforced legal entitlements is crucial for economic growth.Here is further evidence, from Gaza [h/t to Melanie Phillips]:
Hafiz Barghouti, the editor of the newspaper Al-Hayat Al-Jadeed, has written: ‘It appears we are neither prepared to change, nor admit that we have failed in running our own affairs. Everyone is busy calculating how to make the biggest possible gains at the homeland's expense. While most Palestinians find it easy to blame the occupation for all our ills, it is a fact that the occupation was not as bad as the lawlessness and corruption that we are now facing.’
Category: Coase, Economics, Middle East, Property Rights Posted on
Saturday, January 7, 2006 at 12:01am
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