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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, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpeh:9703001
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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, 1993. "The Paradox of the West," Economic History 9309005, University Library of Munich, Germany.
    3. Douglass C. North, 1995. "Some Fundamental Puzzles In Economic History/Development," Economic History 9509001, University Library of Munich, Germany.
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    Cited by:

    1. Eduardo Saavedra & Raimundo Soto, 2006. "Toward a Modern State in Chile: Institutions, Governance, and Market Regulation," Palgrave Macmillan Books, in: Patricio A. Aroca & Geoffrey J. D. Hewings (ed.), Structure and Structural Change in the Chilean Economy, chapter 3, pages 35-67, Palgrave Macmillan.

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