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Proprietary governors had legal responsibilities over the colony as well as responsibilities to shareholders to ensure the security of their investments. The proprietary system was a mostly inefficient [definition needed] system, in that the proprietors were, for the most part, like absentee landlords.
Smith further argued that civil government could not exist without property, as the government's main function was to define and safeguard property ownership. [ 10 ] In the 19th century, the economist and philosopher Karl Marx (1818–1883) provided an influential analysis of the development and history of property formations and their ...
A lord proprietor is a person granted a royal charter for the establishment and government of an English colony in the 17th century. The plural of the term is "lords proprietors" or "lords proprietary".
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
This type of property is publicly owned, but its access and use are managed and controlled by a government agency or organization granted such authority. [16] For example, a government pavement is non-excludable as anyone may use it but rivalrous as, the more people using it, the more likely it will be too crowded for another to join.
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
America Online CEO Stephen M. Case, left, and Time Warner CEO Gerald M. Levin listen to senators' opening statements during a hearing before the Senate Judiciary Committee on the merger of the two ...
Definition National government: The government of a nation-state and is a characteristic of a unitary state. This is the same thing as a federal government which may have distinct powers at various levels authorized or delegated to it by its member states, though the adjective 'central' is sometimes used to describe it. The structure of central ...