Many people consider buying a property in Lagos “chaotic” because they believe the process comes with lots of rigors, rightly so because the process entails the rudiment of confirming the title of the seller and what kind of title would be transferred to them (as purchaser), drawing up contract of sale and title documents, plus…
Pro-growth development officials increasingly focus on corruption as an impediment to development, though traditionally economists have held two distinct opinions about corruption, for example, Robert Barro has suggested that, under some circumstances, corruption can have beneficial effects. According to economist that follows the idea that corruption can be of benefit to the society, he opines…
Armen Alchian, Ronald Coase, and Harold Demsetz founded the modern property rights school of economics. They sought not only to outline the importance of private property rights to the effective functioning of an economy but also to identify the circumstances that lead to the assignment and formation of property rights. According to Alchian, a system…