Re: neomercantilism, trade

["Ian Murray" <seamus2001@xxxxxxxx>]

> ((((((((((
>
> CB: Nirvana's a fallacy ? Our aim is for the state to whither away
after the abolition of private property is accomplished .
=========
The 'nirvana fallacy' is the notion that one can have a transaction
cost-less world and a risk free world. Shifting property rights
structures away from capitalist institutions would not eliminate
either of the above. Shifting power away from those who use their
power to shift risk and costs onto others is an ongoing dynamical
problem and renders those concepts and the meaning[s] of efficiency
polysemic, bigtime...See Duncan Kennedy & Frank Michelman, "Are
Property and Contract Efficient?" 8 Hofstra L. Rev. 711 (1980) for
starters.

Ian