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The exchange order : property and liability as an economic system

Author: Richard P Adelstein
Publisher: New York, NY : Oxford University Press, 2017.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
" There are three basic institutional systems for governing the exchange of property. One is consensual: the exchange of property rights in ordinary markets. The other two, however, are nonconsensual: the involuntary exchange of entitlements in either civil or criminal liability cases. In The Exchange Order, Richard Adelstein argues that while markets, torts, and criminal justice are ostensibly different
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Adelstein, Richard P. (Richard Philip), 1947-
Exchange order.
New York, NY : Oxford University Press, 2017
(DLC) 2017005798
(OCoLC)986237061
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Richard P Adelstein
ISBN: 9780190694289 0190694289 9780190694302 0190694300
OCLC Number: 1001432357
Description: 1 online resource
Contents: Introduction: Governing exchange --
Part I. Property. 1. Property and exchange --
2. Exchange and efficiency --
3. Property and utility --
4. Property and technology --
Part II. Liability. 5. Externality --
6. Tort liability --
7. To encourage the others --
8. Criminal liability --
9. Crime and punishment --
10. Trials and bargains --
Afterword: The exchange order.
Responsibility: Richard Adelstein.

Abstract:

The Exchange Order illuminates a comprehensive social system that comprises explicit markets, tort liability and criminal liability, and describes each of these three institutions as serving the same  Read more...

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"Adelstein employs his impressive breadth of knowledge in philosophy, economics, history, and law to elucidate how the traditional understanding of property uses the same economic principles as our Read more...

 
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    schema:description "" There are three basic institutional systems for governing the exchange of property. One is consensual: the exchange of property rights in ordinary markets. The other two, however, are nonconsensual: the involuntary exchange of entitlements in either civil or criminal liability cases. In The Exchange Order, Richard Adelstein argues that while markets, torts, and criminal justice are ostensibly different constellations of institutions, organizations and individuals, they are remarkably alike. Each governs a particular kind of exchange through a distinctive set of institutions, rules and procedures. They have all evolved over many centuries from the same root, a deep-seated human propensity to communicate with others through trade, to exchange goods for goods and costs for costs as a means of reconciling opposing interests and increasing personal welfare. They perform the same social function, facilitating individually efficient exchanges of rights and compensatory prices, in very different exchange environments that demand very different institutional responses to the problem all three are in place to solve: identifying efficient transfers and seeing that they are completed. The Exchange Order provides a sweeping historical, comparative, and philosophical analysis of how rights and objects, goods and harms, are exchanged in these apparently very different realms. What unites them is a core norm: take only what you can pay for, and pay for everything you take. In markets free exchange is governed by prices and the willingness to sell or buy. Tort and criminal law apply when consensual exchange is violated. The violation is the non-consensual seizure of entitlements and the payment is a liability price on the taker that compensates the victim for the costs imposed by the taking. Tit for tat, an eye for an eye, is the principle of exchange that unites markets, tort and crime. "-- Provided by publisher."@en ;
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