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Books > Law > Jurisprudence & general issues > Foundations of law > Common law
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Law, Informal Rules and Economic Performance - The Case for Common Law (Paperback)
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Law, Informal Rules and Economic Performance - The Case for Common Law (Paperback)
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Capitalism has outperformed all other systems and maintained a
positive growth rate since it began. Svetozar Pejovich makes the
case within this book 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. The analysis throughout is
consistent and is supported by evidence. 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. This book will be of
great interest to academics and students of law and economics, new
institutional economics, comparative systems and public choice
throughout the world and especially in East Asia and South America
where institutional issues are being debated.
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