The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives

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Basic Civitas Books, 2008 - Business & Economics - 259 pages
15 Reviews
25 new runways would eliminate most air travel delays in America. Why can't we build them? 50 patent owners are blocking a major drug maker from creating a cancer cure. Why won't they get out of the way? 90% of our broadcast spectrum sits idle while American cell phone service lags far behind Japan's and Korea's. Why are we wasting our airwaves? 98% of African American-owned farms have been sold off over the last century. Why can't we stop the loss? All these problems are really the same problem--one whose solution would jump-start innovation, release trillions in productivity, and help revive our slumping economy.

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 effect--it 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. Heller's paradox is at the center of The Gridlock Economy. Today's leading edge of innovation--in high tech, biomedicine, music, film, real estate--requires 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 Heller's 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 today's 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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Review: The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives

User Review  - Jon - Goodreads

This book feels like a legal Malcolm Gladwell wannabe. Now, Gladwell is a compelling writer, so in some ways, that's a high bar. That said, what it feels like is that the book didn't have enough new ... Read full review

Review: The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives

User Review  - Dan - Goodreads

interesting concept but poorly executed. It should be written in a short, concise and interesting paper. The idea is extremely important though so I hope the concept spreads. Read full review

Contents

1 The Tragedy of the Anticommons 1
1
2 Welcome to the Lexicon 23
23
3 Where Are the Cures? 49
49
4 You Cant Hear Me Now 79
79
5 Block Parties Share Choppers and BANANA Republics 107
107
6 Empty Moscow Storefronts 143
143
7 The World Is Mine Oyster 165
165
8 A Solutions Tool Kit 187
187
Acknowledgments 199
199
Notes 203
203
Index 247
247
Copyright

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About the author (2008)

Michael Heller is one of America's leading authorities on ownership. He is the Lawrence A. Wien Professor of Real Estate Law at Columbia Law School and has served as the school's Vice Dean for Intellectual Life. He lives in New York and Los Angeles.

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