Politics and Property Rights the Closing of the Open Range in the Postbellum South
- List Price: $77.00
- Binding: Hardcover
- Publisher: Univ of Chicago Pr
- Publish date: 04/01/1998
- ISBN: 9780226423753
- ISBN10: 0226423751
In this original study, Kantor uses economic analysis to show that, contrary to traditional historical interpretation, this conflict was centered on anticipated benefits from fencing livestock rather than on class, cultural, or ideological differences. Kantor proves that the stock law brought economic benefits; at the same time, he analyzes why the law's adoption was hindered in many areas where it would have increased wealth. This argument illuminates the dynamics of real-world institutional change, where transactions are often costly and where some inefficient institutions persist while others give way to economic growth.