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Article: Nationbuilding 101: reductionism in property, liberty, and corporate governance.
- Article from:
- Vanderbilt Journal of Transnational Law
- Article date:
- March 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Vanderbilt University, School of Law. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ABSTRACT
In this Article, Professor Reed re-examines the importance of property as a formal legal institution. He continues by arguing that central to creating property is the right to exclude others from resources acquired without force, theft, or fraud. In countries where this right has been firmly established, per capita income far exceeds that of countries lacking a strong right to exclude. Professor Reed then asserts the importance to nationbuilders of appreciating the virtual semantic equivalence of the terms "property" and "liberty." Finally, he argues that both the specific and broad senses of corporate governance can be reduced to property issues, making ...