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Cataloged Resource Summary

 

Title

Property Rights

Author

Armen A. Alchian

Category

Economic Systems

Type

Article

Description

A property right is the exclusive authority to determine how a resource is used, whether that resource is owned by government or individuals. This article explains property rights further by discussing the three basic elements of private property.

URL

http://www.econlib.org/library/Enc/PropertyRights.html
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