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date: 22 October 2019

Abstract and Keywords

This article brings conflict theory into the equilibrium analysis of the production and distribution of output. Starting with a static framework and then moving on to a dynamic one, it shows that the absence of centralized enforcement of property rights influences the allocation of resources among productive and unproductive activities and economic growth. The discussion shows that the decentralized use of coercion in society is central to economic backwardness and development.

Keywords: conflict theory, equilibrium analysis, property rights, economic growth, decentralized coercion

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