Econ 156, Foldvary; Spring 2003

Real Estate, Globalization and Culture

optional 20 bonus pts.

Civil Society Institute and SCU Institute on Globalization present:

Prof. Tyler Cowen on "How Globalization is Changing the World's Cultures"

7PM, May 28, 2003, De Saisset Museum, SCU

Due Monday, June 2.

Please write your first name then last name on the upper right corner.

Please either print your report or write legibly so it is easy to read.

(Difficult-to-read papers will be returned for rewrite.)

Your report must be your own in your own words.

Do not copy lengthy quotes from other sources.

Links:

http://www.complete-review.com/reviews/cowent/created.htm#ours (with other links)

http://www1.worldbank.org/economicpolicy/globalization/thwart.html

Cite all your sources other than your own mind.

1. How does culture affect real estate? Is there a real-estate culture?

For example, does the culture affect the possession of land? Who gets the rent?

E.g. communal versus individual ownership.

Who builds the housing? The demographics of housing?

The dispersal of the population (whether they live in villages or towns, or in isolated houses)?

Inheritance of real estate? The use of real estate? Taboos about real estate?

The recording and transfer of titles?

2. How does globalization affect the real-estate culture of an economy?

3. From where did the real-estate culture of the United States originate?

(England? Roman law? Ancient Israel? Native American Indians?)

4. In ancient Israel, the land was divided among the tribes and families of the tribe, and every 50 years, title to land reverted back to the family which had a permanent title. How would this affect an agricultural economy and the distribution of wealth?

5. To the extent that globalization shifts cultures to become more productive (such as getting more economic rights for women and reducing cultural restrictions in general), what is the economic impact on real estate?