Saturday, October 25, 2008

Property rights

A lack of well defined property rights can hamper efficiency. A case in point: Christians Feud Over Church of Holy Sepulcher

"The Israeli government has long wanted to build a fire exit in the church, which regularly fills with thousands of pilgrims and has only one main door, but the plan is on hold because the sects cannot agree where the exit will be built. In another example, a ladder placed on a ledge over the entrance sometime in the 19th century has remained there ever since because of a dispute over who has the authority to take it down."

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