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What law is can be determined by the character of the institutions that make, interpret and enforce law. The interaction of these institutions moulds the supply of, and demand for, law. Focusing on this interaction in the context of US property rights law and the debates about private property and the rule of law, Komesar paints an unconventional picture of law and rights shifting and cycling as systemic factors, such as increasing numbers and complexity. This strain produces tough institutional choices and unexpected combinations of goals and institutions. It also frustrates the hopes for courts, rights and law embodied in notions such as the rule of law and constitutionalism. Although there may be an important role for law, rights and courts both in the US and abroad, it cannot be easily defined. This book proposes a way to define that role and to reform legal education and legal analysis.