Proprietary Policy and Production

Byeongju Jeong

CERGE-EI Working Papers from The Center for Economic Research and Graduate Education - Economics Institute, Prague

Abstract: I present a model of a proprietary regime with opportunities for direct production (e.g.,plantation cultivation, mining extraction). The premise is that direct production is a superiormethod of appropriation than taxation. The tax and spending policy of the regime distorts the resource allocation in favor of direct production and at a loss of private production; the welfare of the population suffers while the regime benefits. I examine the relevance of the model to the policies of actual proprietary regimes.

Date: 2006-01
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