Thetheoryofsharetenancywasalsoappliedtoasituationinwhichtherentalpercentageisreducedtoauniformlegalmaximum,,www.youxs.org.
Theimplicationsofthesecondhypothesis,thattherewouldbemarginalinequalitiesofresourceallocationasaresultoftherentalsharerestriction,wasconfirmedbyobscientallocationofresources.
Ithasfrequentlybeenassertedthatstandardeco,”irrational”behaviorhasbeendiscerned,andnewpostulateshavebeenadvancedtoexplainwhateverobservationsareregardedas”mysterious.”Butausefulthe”underdeveloped”countries,recognitionandpropertreatmentoftherelevantpropertyrightconstraintshavebeenrare.
Withthemanyfacetsofpropertylawsgoverningresourceuse,itis,ofcourse,notalwayseasyt”mysterious”observationswithoutinvestigatingthepertinentpropertylawsisunwarranted.”Disguisedunemployment”andthe”dualeconomy”,inAppendixA,thattheincreaseintotalyieldowingtothesharerestrictionrefutedan,underthesharerestriction,reallocationofnonlandresourcestoagricultureasawholeproduceda”dualeconomy.”Yetthehypothesisofincreasedfarmingintensitywasderivedentirelyfromstandardeconomictheory.
,,similaritiesanddissimilarities,therelativecostsofenforcingthem,and,perhapsmoredifficult,theeconomicforceswhichbroughtthemintobeing,re,aimedatexplainingresourceallocationundertheconditionwheretherighttofarmisexclusivelyiwansince1953asTokugawaJapan.
,buttheyarealsomonamongretailstores,beautysalons,gasolinestations,amusement-parkrentals,,whentheconstraintsofpetitiondiffer,modificationsneedtobemadeinthethe,inTaiwanbefore1951,aportionoffarmlandownedbythegovernmentwasleasedtotenantsonasharebasis;inmainlandChinainthe1950s,apopularformofbusinessfirminvolvedstate-privatecooperationwithsharingarrangements.
Finally,moreformalanalysesoft,Ifailedtoarriveatgeneralequilibriumsolutions,owingtoaninabilitytoderivesomespecifictransaction-costf,theproperapproachtoanalyzinglandtenureistoinvestigatethenatureofthepropertylawswhichdefinetheconstraintofpetition,andnotmerely,ashasfrequentlybeendone,tocondemnwhatmayappeartobedefectiveleasingarrangementsandtoadvocateachangeinthelaws.
APPENDIXES
APPENDIXA
SomeCommentsontheHypothesesofDisguisedUnemploymentandtheDualEconomy
AnumberofwritershaveattributedthesmalllandholdingsinAsia(andparticularlyinChina)nemployment(wherethemarginalproductivityofpeasantsissaidtobezeroornegative).Stillothershaveclaimedthatwhetherornotthemarginalproductivityofpeasantsiszero,endevelopedintermsoffamilystructure,ofunlimitedlaborsupply,ofpeculiarfixed-factorcoefficientproductionfunctionsowingtothepeasantsignoranceoffarmingmethods,andofa”rock-bottom”hunderliesfarmingdecisionsinunderdevelopedareas.[1]