私有财产是垄断的另1面.pptxVIP

Property is only another name for monopoly;ABSTRACT: The existing system of private property interferes with allocative efficiency by giving owners the power to hold out for excessive prices. We propose a remedy in the form of a tax on property, based on the value self-assessed by its owner at intervals, along with a requirement that the owner sell the property to any third party willing to pay a price equal to the self-assessed value. The tax rate would reflect a tradeoff between gains from allocative efficiency and losses to investment efficiency, likely in the range of 5 to 10 percent annually for most assets. We discuss the detailed design of this system from an economic and legal perspective. ;一、背景介绍 二、应对措施 三、最佳措施——哈伯格税背后的理论基础 四、设计与技术 ;It is conventional to think that this monopoly is benign. It gives the owner an incentive to invest in improving the property because she receives the entire payoff from its use or sale. This aligns social and private incentives for investment in property. This thinking plays a role in libertarian defenses of private property and in the influential work of legal economists deriving from the Coase Theorem。 ;However, the monopoly also creates a serious cost that is often overlooked. Because the owner has a monopoly, she will attempt to sell the property at a monopoly price, one above the minimum she would be willing to accept for her asset. Because some buyers will have a valuation that is lower than the announced price but higher than the sellers valuation, some efficient sales will be blocked or delayed. This inhibits the allocation of property to its most valuable uses, a crucial component of a successful market economy. Macroeconomists have found that failure of assets to be reallocated to their most effici