Property Rights and the Potitical Economy of Resource Scarcity

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Abstract
Changes in resource availability place, property rights under stress. Major policy issues exist with respect to rights to land, water, and the ocean fishery. Sometimes these policy issues are confronted in the context of structural changes in property rights, that is, by changing the relationship among those who hold rights both within the private or between the public and private sector. In some instances, changes in resource availability may trigger macro policies designed to affect the distribution of income, employment, or inflation. These macro policies typically also have an indirect but very real effect on property rights.

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