Review essay on \\"Privatopia\\" and the Public Good by Evan McKenzie, 1994
Abstract: In Privatopia, Evan McKenzie documents the history and legal structure of common interest developments, a form of residential community organization. McKenzie also looks at possible explanations for the rising popularity of these organizations despite the fact that their governing associations may impose more onerous restrictions on residents' behavior than municipal governments do. In this essay, the reviewer discusses McKenzie's explanations and adds his own based on an appreciation of the underlying economic forces that have shaped these types of communities. The reviewer concludes that the challenge for common interest developments is to devise forms of organization that incorporate efficiency advantages while ensuring greater democracy and fair play for residents.
Provider: Federal Reserve Bank of Atlanta
Part of Series: Economic Review
Publication Date: 1995