The Mystery of Property Rights: A U.S. Perspective
探讨美国历史上产权频繁被强制重新分配却仍被视为安全的现象，分析经济发展中产权安全与重新配置能力之间的张力。
Economic development requires both secure property rights and the ability to reallocate property in response to technological and other changes. Significant reallocations have occurred repeatedly throughout U.S. history and have often been involuntary. This essay considers the question of how property rights can be subject to frequent involuntary reallocation and still be considered secure. “Upon the sacredness of property civilization itself depends—the right of the laborer to his hundred dollars in the savings bank, and equally the legal right of the millionaire to his millions.” 1 Andrew Carnegie