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Law, informal rules and economic performance : the case for common law

Author: Svetozar Pejovich; Enrico Colombatto
Publisher: Cheltenham, UK ; Northampton, MA : Edward Elgar, ©2008.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Capitalism has outperformed all other systems and maintained a positive growth rate since it began. This book shows that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust the rules of the game to the requirements of economic progress.
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Pejovich, Svetozar.
Law, informal rules and economic performance.
Cheltenham, UK ; Northampton, MA : Edward Elgar, ©2008
(OCoLC)190778043
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Svetozar Pejovich; Enrico Colombatto
ISBN: 9781848442900 1848442904 128177961X 9781281779618
OCLC Number: 246922405
Description: 1 online resource (xi, 178 pages)
Contents: Cover; Contents; Tables; Foreword; Preface and acknowledgments; PART I Basic economic concepts; 1. The game and the rules of the game; 2. Transaction costs; PART II Transformation of the medieval community into modern society: the rise of classical liberalism, the rule of law and capitalism; 3. From the Middle Ages to capitalism; 4. Capitalism and the rule of law; Appendix: Afraid to be free: dependency as desideratum; 5. The law of contract and the judiciary; 6. The economic functions of the constitution; 7. Private property rights; 8. Capitalism, economic freedom and performance. 9. The rule of law and capitalism: an overviewPART III Toward a theory of institutional change; 10. The method of analysis; 11. The interaction thesis; 12. The carriers of change: the role of entrepreneurs; 13. Formal institutions; 14. Informal institutions or cultural traditions: the role of pathfinders; 15. Efficiency-friendly institutional change within the structure of tradition; Index.
Responsibility: Svetozar Pejovich ; with contributions from Enrico Colombatto.

Abstract:

Key components of the proposed theory are the rule of law, the market for institutions, the interaction thesis, the carriers of change, and the process of changing formal and informal institutions.  Read more...

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`Almost everyone will gain something of value from reading this book. For those who work in the new institutional economics, Pejovich provides a thoughtful treatment of how common-law and civil-law Read more...

 
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