The Political Institution of Private Property

Download or read book The Political Institution of Private Property written by Itai Sened and published by Cambridge University Press. This book was released on 1997-07-24 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Itai Sened examines the political institution of property and other individual rights. His argument is that the foundation of such rights is to be found in the political and economic institutions which grant and enforce them and not in any set of moral principles or 'nature'. The book further argues that individual rights are instituted through a political process, and not by any hidden market forces. The origin of rights is placed in a social contract that evolves as a political process in which governments grant and protect property and other individual rights to constituents, in return for economic and political support. Extending neo-institutional theory to the subject, and using a positive game theoretic approach in its analysis, this book is an original contribution to scholarship on the evolution of rights.