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Legal Practice and Economic Adaptation

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  • Mark White

    (White & Associates)

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    Abstract

    Common Law, as practiced around the world, permits what it doesn't prohibit. Compared to Roman Law practice, which prohibits what it doesn't permit, the Common Law makes economic innovation easy. Easy economic innovation, in turn, promotes rapid economic adaptation -- broad technological improvements in goods, services, and processes. Since faster economic adaptation rates in Common Law countries stem from the Common Law's prior permission, Roman Law countries could raise their economic adaptation rates by adopting a similar stance.

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    Bibliographic Info

    Paper provided by EconWPA in its series Economic History with number 9703001.

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    Date of creation: 25 Mar 1997
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    Handle: RePEc:wpa:wuwpeh:9703001

    Note: see http://www.geocities.com/wallstreet/7891 for more info
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    1. Douglass C. North, 1994. "The Historical Evolution of Polities," Economic History 9411007, EconWPA, revised 14 Dec 1994.
    2. Douglass C. North, 1995. "Some Fundamental Puzzles In Economic History/Development," Economic History 9509001, EconWPA.
    3. Douglass C. North, 1993. "The Paradox of the West," Economic History 9309005, EconWPA.
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    Cited by:
    1. Eduardo Saavedra & Raimundo Soto, 2004. "Toward a Modern State in Chile: Institutions, Governance, and Market Regulation," ILADES-Georgetown University Working Papers inv157, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.

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