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Vol 21 No 10 Oct/Nov 2016

Book of the Month

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Criminal Injuries Compensation Claims

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Law, Informal Rules and Economic Performance: The Case for Common Law

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ISBN13: 9781845428730
Published: June 2008
Publisher: Edward Elgar Publishing Limited
Country of Publication: UK
Format: Hardback
Price: £79.00



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Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust the rules of the game to the requirements of economic progress. The analysis throughout is consistent and is supported by evidence. Key components of the proposed theory are the rule of law, the market for institutions, the interaction thesis, the carriers of change, and the process of changing formal and informal institutions. This book will be of great interest to academics and students of law and economics, new institutional economics, comparative systems and public choice throughout the World and especially in East Asia and South America where institutional issues are being debated.

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Subjects:
Jurisprudence
Contents:
Preface Foreword by Professor Leonard Liggio Part I: Basic Economic Concepts Part II: Transformation of the Medieval Community into Modern Society: The Rise of Classical Liberalism, the Rule of Law, and Capitalism Part III: Toward a Theory of Institutional Change