A spectre is haunting the world - the spectre of global capitalism

William Kingston ()
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William Kingston: School of Business Studies, Trinity College, Dublin, Ireland

Journal of Evolutionary Economics, 2000, vol. 10, issue 1, 83-108

Abstract: Individual property rights are fruitful for economic development because they civilise self-interest by forcing it to serve the common good. The history of previous property rights "cycles," however, shows that their ability to do this deterioriates over time because the laws of property fall under the control of those whom property is meant to discipline. Irresponsible ownership then intensifies inequality until a breaking point is reached. The present cycle is no exception, but its breaking point has been postponed by the growth of the democratically-inspired welfare state.

Keywords: Property; rights; -; Globalisation; -; World; Trade; Organisation; -; Schumpeter (search for similar items in EconPapers)
JEL-codes: A13 F02 K00 P10 (search for similar items in EconPapers)
Date: 2000-01-04
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Citations: View citations in EconPapers (3)

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