Contract Law and Theory: Selected Provisions: Restatement of Contracts and Uniform Commercial Code (2013) | Contract Law and Theory (2013) | Torts Stories | Contract Stories | Concepts and Case Analysis in the Law of Contracts | Federal Rules of Civil Procedure | Perspectives on Property Law
Every so often an idea comes along that transforms our understanding of how the world works. Michael Heller has discovered a market dynamic that no one knew existed. Usually, private ownership creates wealth, but too much ownership has the opposite effectâit creates gridlock. When too many people own pieces of one thing, whether a physical or intellectual resource, cooperation breaks down, wealth disappears, and everybody loses. Hellerâs paradox is at the center of The Gridlock Economy. Todayâs leading edge of innovationâin high tech, biomedicine, music, film, real estateârequires the assembly of separately owned resources. But gridlock is blocking economic growth all along the wealth creation frontier.
A thousand scholars have applied and verified Hellerâs paradox. Now he takes readers on a lively tour of gridlock battlegrounds. Heller zips from medieval robber barons to modern-day broadcast spectrum squatters; from Mississippi courts selling African-American family farms to troubling New York City land confiscations; and from Chesapeake Bay oyster pirates to todayâs gene patent and music mash-up outlaws. Each tale offers insights into how to spot gridlock in operation and how we can overcome it.
The Gridlock Economy is a startling, accessible biography of an idea. Nothing is inevitable about gridlock. It results from choices we make about how to control the resources we value most. We can unlock the grid; this book shows us where to start.
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