Property Rights,Social Capital And Institutions

Property rights and Institutions are one of the most popular economics terms at present. Social capital, a new concept, it conquer economists recently as well though it is less impress than property rights and institutions, why are the former so noticeable? Firstly we dislike the dominant new- classical analytic methods including of abstract, deviate-social, deviate-historical and especially they are unsuitable to realistic life so that we have to explore some new analytic methods; Secondly China reform refer property rights and institutions step by step and the problem is also a global theme with China economy high speed development. Thirdly it made us more attention to the terms when USSR was dismissed and East Europe was shake-up last century. The dominant theories of west property rights and new institutions school think private property rights institutions is the best choice because it can cut down institutions cost as far as possible. Though the theories were tested in Russia and East Europe Countries reform, the result was unsatisfactory. When the theories were introduced to China, some persons accepted them thoroughly and suggested our SOC property rights should make them private completely, but other persons watchfully treated the theories and contend with them by Max theory. The paper thought these theories doubtfully and not only criticized privatism completely but also appraised Max theory about these. The paper refers to the most lately social capital theory and reviews them with my analytic method. I suggest that we should pay more attention to construct social capital.