![Property rights develop to internalize externalities when the gains of internalization become larger than the cost of internalization. Increased internalization, in the main, results from changes in economic values, changes which stem from the development of new technology and the opening of new markets, changes to which old property rights are poorly attuned [G]iven a community's tastes... [for private versus state ownership], the emergence of new private or state-owned property rights will be in response to changes in technology and relative prices. (Harold Demsetz)](https://cdn.quotesdtb.com/img/quotes_images_webp/89/harold-demsetz-cost-development-947789.webp)
Property rights develop to internalize externalities when the gains of internalization become larger than the cost of internalization. Increased internalization, in the main, results from changes in economic values, changes which stem from the development of new technology and the opening of new markets, changes to which old property rights are poorly attuned [G]iven a community's tastes... [for private versus state ownership], the emergence of new private or state-owned property rights will be in response to changes in technology and relative prices.
Harold DemsetzRelated topics
cost development emergence main opening ownership private property relative response state stem technology internalizationRelated quotes
The man who has struggled bravely with the passions of the body, has fought ably against unclean spirits, and has expelled from his soul the conceptual images they provoke, should pray for a pure heart to be given him and for a spirit of integrity to be renewed within him (cf. Ps. 51:10). In other words, he should pray that by grace he may be completely emptied of evil thoughts and filled with divine thoughts, so that he may become a spiritual world of God, splendid and vast, wrought from moral, natural and theological forms of contemplation.
Maximus the Confessor
It is a fearful thing to hate whom God hath loved. To look upon another-his weaknesses, his sins, his faults, his defects is to look upon one who is suffering. He is suffering from negative passions, from the same sinful human corruption from which you yourself suffer. This is very important: do not look upon him with judgmental eyes of comparison, noting the sins you assume you'd never commit. Rather, see him as a fellow sufferer, a fellow human being who is in need of the very healing of which you are in need. Help him, love him, pray for him do unto him as you would have him do unto you.
Tikhon of Zadonsk
My budget nearly doubles funding for a sustained strategy of homeland security, focused on four key areas: bioterrorism, emergency response, airport and border security, and improved intelligence. We will develop vaccines to fight anthrax and other deadly diseases. We'll increase funding to help states and communities train and equip our heroic police and firefighters. We will improve intelligence collection and sharing, expand patrols at our borders, strengthen the security of air travel, and use technology to track the arrivals and departures of visitors to the United States.
George W. Bush
Since the management of industry by individuals necessarily implies private property, and since competition is in reality merely the manner and form in which the control of industry by private property owners expresses itself, it follows that private property cannot be separated from competition and the individual management of industry. Private property must, therefore, be abolished and in its place must come the common utilization of all instruments of production and the distribution of all products according to common agreement – in a word, what is called the communal ownership of goods.
Friedrich Engels
In the industrial mode of development, the main source of productivity lies in the introduction of new energy sources, and in the ability to decentralize the use of energy throughout the production of circulation processes. In the new informational mode of development the source of productivity lies in the technology of knowledge generation, information processing and symbolic ... what is specific to the informational mode of development is the action of knowledge upon knowledge itself as the main source of productivity... in a virtuous circle of interaction.
Manuel Castells
