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Prof. Dozhdev - Development of Property Rights in the Russian Federation: European Legal Tradition and Post-Soviet Transition

The system of property rights in the current Russian legal framework as well as in the proposed Draft Amendments to the Civil Code (which will be adopted in 2014) are analyzed from a comparative law perspective.

The lecture will focus on both the conceptual framework of property rights in the Russian legal system as well as on practical issues in regard to judicial protection, acquisition and limitation of ownership and other real rights. In addition, the social and economic implications of the concept of property will be discussed.

In a systematic analysis, property rights according to the Continental European tradition are contrasted with concepts and notions of Common Law. In this context, the problems of eventual legal transplantation are thoroughly assessed. The examination of the immanent reforms of the Russian Civil Code reveals principles of the European legal tradition, stimulates critical thinking and contributes considerably to the development of professional skills.

Prof. Heinsohn - Introduction to the Theory of Ownership-based Economics with a View on the Current Global Crisis

Gunnar HEINSOHN, Professor emeritus of the University Bremen, is a historian, sociologist and economist, who elaborated — together with Otto STEIGER — a specic theory of modern economics, namely the theory of ownership-based economics.

This theory deals with a symptomatic lacune of mainstream economics — this being the absence of any theoretical explanation of money and interest in mainstream economics — and focuses on legal institutions such as rights in rem (ownership) and contracts (credit agreements) to explain the origins of money and modern business cycles.

The key elements of mainstream economics, such as the pretense of universalism and the assumption of a homo oeconomicus and his self-interest driven rationality, are amongst those building blocks of contemporary economics which are in the focus of HEINSOHN‘s (and STEIGER‘s) critique.

At the ocassion of his visit to Vienna, Professor HEINSOHN will present an introduction to his theory of ownership-based economics. The tools developed by way of this introduction will be used to engage in a description and analysis of the current systemic crisis of the globalized economy.

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