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The Law of Contract and the Judiciary

In: Law, Informal Rules and Economic Performance

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Abstract

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.

Suggested Citation

  • ., 2008. "The Law of Contract and the Judiciary," Chapters, in: Law, Informal Rules and Economic Performance, chapter 5, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:4198_5
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    Cited by:

    1. Wentian Li & Yaning Yang, 2009. "Fractal Characterizations Of Max Statistical Distribution In Genetic Association Studies," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 12(04n05), pages 513-531.
    2. Revkin, Mara Redlich & Ahram, Ariel I., 2020. "Perspectives on the rebel social contract: Exit, voice, and loyalty in the Islamic State in Iraq and Syria," World Development, Elsevier, vol. 132(C).
    3. Fei Xiong & Yun Liu & Zhenjiang Zhang, 2011. "Dynamics With Co-Evolution Of Individual Inclination And Opinion," International Journal of Modern Physics C (IJMPC), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 51-62.
    4. Ian Fillis & Ruth Rentschler, 2010. "The Role Of Creativity In Entrepreneurship," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 18(01), pages 49-81.
    5. Joaquín P. Pujol, 2008. "Economic Challenges Facing the Cuban Authorities," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 18.

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