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Full-Text Articles in Law
Property And Prosperity, A Demythifying Story, Xiaoqian Hu
Property And Prosperity, A Demythifying Story, Xiaoqian Hu
St. John's Law Review
(Excerpt)
Economic development is fundamentally a property law story. Prominent thinkers―from Adam Smith and Jeremy Bentham, to Douglass North and Richard Posner―tell us that protection of private property rights is essential for economic growth and wealth accumulation. Clear and freely alienable property rights reduce transaction costs and allow private bargaining to produce efficient results. Property rights allow owners to internalize the costs and benefits of their own behavior, reduce production costs, and encourage innovation. Secure property rights protect owners from arbitrary confiscation by the government, foster owner expectations, and facilitate investment, trade, and the development of financial markets. The idea …
White Picket Fences & Suburban Gatekeeping: How Long Island’S Land Use Laws Cement Its Status As One Of The Most Segregated Places In America, Jessica Mingrino
White Picket Fences & Suburban Gatekeeping: How Long Island’S Land Use Laws Cement Its Status As One Of The Most Segregated Places In America, Jessica Mingrino
St. John's Law Review
(Excerpt)
The average wealth of Black families is one-seventh that of white families in the United States today. Homeownership—the primary avenue through which Americans accumulate personal and generational wealth—is the leading driver of the wealth disparity between white and Black American families, known as the “racial wealth gap.” The systematic and intentional exclusion of Black people from developing communities during the twentieth century largely excluded people of color from the housing boom and denied them the opportunity afforded to white people to multiply their assets. Contrary to widespread belief, however, legislation-backed oppression of Black Americans did not end in the …