Types of planning and property rights

This research contributes to the debate concerning the nature of planning in complex systems, and particularly to the theory of teleocracy (the approach based on direct provisions aimed at specific ends) and nomocracy (the approach based on rules aimed at general rather than specific ends). It draws parallels with the theory of regulation and establishes a connection between rules, regulation and the nomocratic planning of social activities. It then suggests that a property rights analysis of the forms of social coordination/organisation can be instrumental in understanding the nature of social interactions. Based on the theory of property rights, the study concludes that the use of different types of planning, regulation or market mechanisms of social coordination is closely related to the concrete form of ownership over the resources employed in any given social activity.