The Necessity of Property Rights (Chapter 6)

S.H. Hanke (ed.), Privatization and Development. San Francisco: Institute for Contemporary Studies Press, 1987, (English, Spanish, Arabic, Chinese, Portuguese, French and Romanian)

5 Pages Posted: 14 Mar 2013

See all articles by Steve H. Hanke

Steve H. Hanke

Johns Hopkins University - Department of Economics

Abstract

Over the past fifty years most governments have assumed a greater role in the economic affairs of their nations. There has been more emphasis on macroeconomic planning and management; public sector budgets have grown in absolute terms and in relation to private sector activity. This growth has been the result of rapid increases in welfare programs, military expenditures, and the range and scale of public infrastructure and services. Many countries have increased the scope of government by embracing the concept of an entrepreneurial state: A state that is allegedly the engine of growth and development, and one that attempts to achieve growth by either operating nationalized industries or intervening heavily in the operation of private firms. Finally, some countries have adopted socialist and communist economic systems - usually involuntarily - for ideological reasons.

Suggested Citation

Hanke, Steve H., The Necessity of Property Rights (Chapter 6). S.H. Hanke (ed.), Privatization and Development. San Francisco: Institute for Contemporary Studies Press, 1987, (English, Spanish, Arabic, Chinese, Portuguese, French and Romanian). Available at SSRN: https://ssrn.com/abstract=2233013

Steve H. Hanke (Contact Author)

Johns Hopkins University - Department of Economics ( email )

3400 Charles Street
Baltimore, MD 21218-2685
United States
410-516-7183 (Phone)
410-516-8996 (Fax)

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