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there is an enormously
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intricate system of informal property
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which governs the way we actually function.
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That system of property can be good, bad,
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or indifferent, it can be just or unjust,
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it can be notoriously inefficient, and in fact,
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if you think about the failure of socialist regimes,
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one important explanation is
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that the underlying informal norms about
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what people do with their work lives
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were never integrated with the planned economies
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in an effective way.