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Legal Practice and Economic Adaptation

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  • Mark White

    (White & Associates)

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.

Suggested Citation

  • Mark White, 1997. "Legal Practice and Economic Adaptation," Economic History 9703001, EconWPA.
  • Handle: RePEc:wpa:wuwpeh:9703001 Note: see http://www.geocities.com/wallstreet/7891 for more info
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    References listed on IDEAS

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    1. North, Douglass C., 1994. "The historical evolution of polities," International Review of Law and Economics, Elsevier, vol. 14(4), pages 381-391, December.
    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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    JEL classification:

    • K - Law and Economics

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