Arman Alkian is a noted economist whose work, his life's work is on economics of property rights. He says when property rights are protected, good things happen and people invest in using that resource better. But let's take the example of Sandalwood, and there is the story of property rights there. Why is Sandalwood so much in shortage in India? Even though around 90% of the world's resources are in three Indian states: Tamil Nadu, Kerala and Karnataka.

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