Wildy logo
(020) 7242 5778

Wildy’s Book News

Book News cover photo

Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

Pupillage & Student Offers

Special Discounts for Pupils, Newly Called & Students

Read More ...

Secondhand & Out of Print

Browse Secondhand Online


The Political Economy of Customs and Culture

Image not available lge

ISBN13: 9780847677863
ISBN: 0847677869
Published: July 1994
Publisher: Rowman & Littlefield
Country of Publication: USA
Format: Hardback
Price: Out of print

Since the writings of Adam Smith, economists have understood the important role that private property rights play in a well functioning economic system. Without well-defined, enforced and transferable property rights, the tragedy of the commons is said to result, as in the classic case of over-fishing and over-grazing. This book challenges this narrow view of property rights by examining the role of informal constraints imposed by customs and culture. Recognising that a great deal of human interaction takes place in the absence of individually specified rights, the authors challenge the notion that a tragic outcome is inevitable with regard to commons.