From a neo-liberal, neo-classical paradigm, secure, formal and
private property rights are crucial to fostering sustained
development. Institutions that fail to respond to shifting
socio-economic opportunities are thus forced to make new
arrangements. The enigma is posed by developments on the ground.
Why would the removal of authoritarian institutions during the Arab
Spring or Iraq War not increase market efficiency but rather cause
the reverse, while China and India, despite persisting insecure,
informal and common institutions, featured sustained growth? This
collection posits that understanding these paradoxes requires a
refocusing from form to function, detached from normative
assumptions about institutional appearance. In so doing, three
things are accomplished. First, starting from case studies on land,
it is ascertained that the argument can be meaningfully extended to
labour, capital and beyond. Second, the argument validates the
'Credibility Thesis' - that is, once institutions persist, they
fulfil a function. Third, the collection studies 'development,
broadly construed', by including the modes of production and
beyond, the rural and urban, the developed and developing. This is
why it reviews property rights from China and India, to Turkey,
Mexico and Malaysia, covering issues such as customary rights and
privatization, mining and pastoralism, dam-building and irrigation,
but also state-owned banks, trade unions and notaries. This book
was originally published as a special issue of The Journal of
Peasant Studies.
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