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This is a study of the way individuals organise the use of resources in order to maximise the value of their economic rights over these resources. Property rights and all forms of organisation result from people's deliberate actions. In the tradition of Coase, this study offers a unified theoretical structure to deal with exchange, rights formation and organisation which traditional economic theory assumes away. A person's economic property rights over an asset are defined here as the person's ability to gain from the asset by direct consumption or by exchange. It is prohibitively costly to measure accurately all assets' attributes; therefore, rights to them are never fully delineated. Property is consequently in danger of appropriation by others. Individuals enhance their rights by such actions as the protection and better delineation of their assets. In this new edition, Professor Barzel introduces the central role of equity capital as a guarantor of the activities of the firm and elaborates on the distinction between economic rights and legal rights.

Property --- Right of property --- 347.23 --- 347.23 Eigendomsrecht --- Eigendomsrecht --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Economics --- Possession (Law) --- Things (Law) --- Wealth --- Law and legislation --- Property. --- Right of property. --- Primitive property --- Business, Economy and Management

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Urban policy --- Right of property --- Politique urbaine --- Propriété --- Cities and state --- Urban problems --- City and town life --- Economic policy --- Social policy --- Sociology, Urban --- City planning --- Urban renewal --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Law and legislation --- Propriété

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John Locke's labor theory of property is one of the seminal ideas of political philosophy and served to establish its author's reputation as one of the leading social and political thinkers of all time. Through it Locke addressed many of his most pressing concerns, and earned a reputation as an outstanding spokesman for political individualism - a reputation that lingers widely despite some partial challenges that have been raised in recent years. In this major new study Matthew Kramer offers an extensive critique of the labor theory and investigates the consequences of its downfall. With incisive analyses of the merits and failings of many aspects of Locke's political thought, Kramer advances a powerful challenge to Locke's image as an individualist. Employing a rigorously philosophical methodology, but remaining aware of the insights generated by historical approaches to Locke, Kramer concludes that Locke's political vision was in fact profoundly communitarian.

Communitarianism --- Individualism --- Equality --- Labor --- Right of property --- Egalitarianism --- Inequality --- Social equality --- Social inequality --- Political science --- Sociology --- Democracy --- Liberty --- Economics --- Self-interest --- Libertarianism --- Personalism --- Persons --- Social structure --- Ownership of property --- Private ownership of property, Right of --- Private property, Right of --- Property, Right of --- Property rights --- Right of private ownership of property --- Right of private property --- Right to property --- Civil rights --- Property --- Labor and laboring classes --- Manpower --- Work --- Working class --- History --- Law and legislation --- Locke, John, --- Locke, John --- 330.17 --- 17th century --- Philanthropus, --- Lokk, Dzhon, --- Lūk, Jūn, --- Lo-kʻo, --- Locke, Giovanni, --- Lock, --- Lock, John, --- Rokku, Jon, --- לוק, י׳ון, --- Arts and Humanities --- Communitarianism - History - 17th century. --- Individualism - History - 17th century. --- Equality - History - 17th century. --- Labor - History - 17th century. --- Right of property - History - 17th century. --- Communautarisme --- Individualisme --- Travail --- Histoire --- 17ème siècle