PLSC 270: Capitalism: Success, Crisis and Reform
Lecture 16 - Braudel's Bell Jar. Professor Rae explores Hernando de Soto's theories of dead and live capital and the power of property rights. According to de Soto, informal property must carefully be integrated into the formal property system. Professor Rae presents the example of Baltimore's row house vacancy problem, and the difficulties in designing and implementing innovative property policies when existing interests of local stakeholders are firmly entrenched. The Coase theorem and transaction costs are revisited. Professor Rae also facilitates a discussion with students on how a developing country should most productively invest 5% of its gross domestic product (GDP). Complexities of economic development are explored. (from oyc.yale.edu)
| Lecture 16 - Braudel's Bell Jar |
| Time | Lecture Chapters |
| [00:00:00] | 1. Introduction and Class Agenda |
| [00:02:10] | 2. De Soto's Policy Program, Bridge and Fitting Formal to Informal Property Regimes |
| [00:08:50] | 3. Case: Baltimore Row House Swap Scheme |
| [00:19:11] | 4. Coase Theorem Revisited and the De Soto-Coast Grid |
| References |
| Lecture 16 - Braudel's Bell Jar Instructor: Professor Douglas W. Rae. Transcript [html]. Audio [mp3]. Download Video [mov]. |
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