I think there may be Coase theorem implications as well. When property is owned individually, by the public, regardless of what property or who owns it, an economic system flourishes. However when property is owned collectively, even by well meaning institutions run by experts and people who think they know best for others, economic decline and catastrophe are inevitable. It is almost as if an invisible hand guiding the public works better than the all too visible hand of the experts. --[[User:PThomson|PThomson]] 23:00, 15 December 2009 (EST) | I think there may be Coase theorem implications as well. When property is owned individually, by the public, regardless of what property or who owns it, an economic system flourishes. However when property is owned collectively, even by well meaning institutions run by experts and people who think they know best for others, economic decline and catastrophe are inevitable. It is almost as if an invisible hand guiding the public works better than the all too visible hand of the experts. --[[User:PThomson|PThomson]] 23:00, 15 December 2009 (EST) |