On Hodgson on property rights

Geoffrey Hodgson has a number of criticisms regarding the 'economic approach to property rights' that has been mostly championed by members of the UCLA and Washington departments of economics during the 1960s-1990s. In this short note I address these comments and point out that most are simply a matter of nomenclature. When there are disagreements they stem from Hodgson's failure to account for positive transaction costs and this literature's emphasis on operational explanations of organization.