Justice and the Reformulation of Property Rights in the Czech Republic
Justice and the Reformulation of Property Rights in the Czech Republic

Summary/Abstract: The privatization program in the Czech Republic ambitiously seeks to transfer the bulk of the country's wealth from state to private ownership. As part of this transformation, the state hopes to design an efficient property rights structure that creates a predictable economic environment, provides incentives for the productive use of resources, and ensures an adequate tax base for the government. While the establishment of a liberal economic system constitutes the end goal of Czech privatization, the present government's means of achieving this goal diverge from liberal economic logic and prevailing property rights theories. In addition to economic considerations, moral and political imperatives drive the process of redefining property rights in the Czech Republic. [...]

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