IDEAS home Printed from https://ideas.repec.org/a/cmn/journl/y2016i3p173-181.html
   My bibliography  Save this article

The Mistaken Doctrine of Common Law: A Critique

Author

Listed:
  • Lukáš Nikodym

    (University of Economics in Prague, Department of Economic History)

  • Tomáš Nikodym

    (University of Economics in Prague, Department of Economic History)

  • Tereza Pušová

    (University of Economics in Prague, Department of Economic History)

Abstract

The study deals with Huerta de Soto's thesis about the "mistaken doctrine of common law", which is based on the equalization of depositum irregulare and mutuum contracts. He concluded that equalization of these contracts resulted in the creation of business cycles. According to this study, Huerta de Soto made a mistake when considering contracts inspired by the continental law based on Roman law. The study shows that mutuum was even in Roman law an ancient contract that was not codified, and that Huerta de Soto's interpretation of this contract in the Anglo-American legal system is based more on civil law, not on common law as he stated in his work. Finally, the problem of common law did not lie in the equalization of the mentioned contracts, but rather in the absence of depositum irregulare contracts applied to monetary questions.

Suggested Citation

  • Lukáš Nikodym & Tomáš Nikodym & Tereza Pušová, 2016. "The Mistaken Doctrine of Common Law: A Critique," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 3, pages 173-181, September.
    • Handle: RePEc:cmn:journl:y:2016:i:3:p:173-181
    as

    Download full text from publisher

    File URL: http://www.eaco.eu/wp-content/uploads/2016/09/nikodym-pusova.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Peter Aranson, 1992. "The common law as central economic planning," Constitutional Political Economy, Springer, vol. 3(3), pages 289-319, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Giuseppe Dari-Mattiacci & Bruno Deffains, 2007. "Uncertainty of Law and the Legal Process," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(4), pages 627-656, December.
    2. Alain Marciano, 2018. "Posner, Richard," Post-Print hal-02306799, HAL.
    3. Horwitz Steven, 1993. "Spontaneity and Design in the Evolution of Institutions: The Similarities of Money and Law," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 4(4), pages 1-18, December.
    4. Boettke Peter J., 1994. "The Reform Trap In Economics And Politics In The Former Communist Economies," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 5(2-3), pages 1-28, June.
    5. Dari-Mattiacci, Giuseppe & Deffains, Bruno & Lovat, Bruno, 2011. "The dynamics of the legal system," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1), pages 95-107.
    6. Ejan Mackaay, 1997. "The Emergence of Constitutional Rights," Constitutional Political Economy, Springer, vol. 8(1), pages 15-36, March.
    7. Todd J. Zywicki & Edward P. Stringham, 2017. "Austrian law and economics and efficiency in the common law," Chapters, in: Todd J. Zywicki & Peter J. Boettke (ed.), Research Handbook on Austrian Law and Economics, chapter 9, pages 192-208, Edward Elgar Publishing.
    8. Eckardt, Martina, 1999. "The Evolution of the German Tort Law in the 19th Century - An Economic Analysis of the Evolution of Law," Thuenen-Series of Applied Economic Theory 23, University of Rostock, Institute of Economics.
    9. Barbara Luppi & Francesco Parisi, 2012. "Litigation and legal evolution: does procedure matter?," Public Choice, Springer, vol. 152(1), pages 181-201, July.
    10. Harnay, Sophie & Marciano, Alain, 2003. "Judicial conformity versus dissidence: an economic analysis of judicial precedent," International Review of Law and Economics, Elsevier, vol. 23(4), pages 405-420, December.
    11. Eckardt, Martina, 2004. "Evolutionary approaches to legal change," Thuenen-Series of Applied Economic Theory 47, University of Rostock, Institute of Economics.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cmn:journl:y:2016:i:3:p:173-181. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Helena Campbelle (email available below). General contact details of provider: http://www.eaco.eu .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.