Property Rights 1: Private v. Collective
In this video we look at a very basic distinction that between private and collective property rights. What are the advantages of private property rights? The Great Leap Forward and the the heroes of Xiaogang Village provide a vivid illustration. We also look at Plymouth Plantation and Vietnam in the modern era.
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The practice question on Xiaogang village is not consistent with the video as of the morning of 11/14/2012.