Legal Practice and Economic Adaptation
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.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- North, Douglass C., 1994.
"The historical evolution of polities,"
International Review of Law and Economics,
Elsevier, vol. 14(4), pages 381-391, December.
- Douglass C. North, 1993. "The Paradox of the West," Economic History 9309005, EconWPA.
- Douglass C. North, 1995. "Some Fundamental Puzzles In Economic History/Development," Economic History 9509001, EconWPA.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpeh:9703001. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.