Welcome to the third series of the Political Economic Digest.
In the last series we discussed about what really motivates people to do (or not to do) something. Incentives, as we learned, are the reasons behind people’s activities and having well designed incentive system is a must for sound public policies.
In this series we are going to talk about property rights.
Why are property rights important? And what incentives do property rights provide for people to work harder and better? How is protection of property rights related to economic prosperity?
The first reading is the third chapter of the Nepali translation of the book, “The Adventures of Jonathan Gullible”, in which you’ll find about tragedy of the commons.
The second reading is a text extracted from the book “Common Sense Economics”, the authors have explained the concept and importance of property rights with examples.
The final reading is the first chapter of the book Mystery of the Capital.
Read more in the uploaded file.
We hope you enjoy the reading.