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Lawlessness and Economics: Alternative Modes of Governance (The Gorman Lectures in Economics)


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#1220513 in eBooks 2011-10-23 2011-10-23File Name: B006CQ5DWQ0 of 1 people found the following review helpful. Five StarsBy Constant weederfirst rate9 of 9 people found the following review helpful. How economies function without laws.By Rolf DobelliIn Shakespeare's Henry VI Part 2, a member of John Cade's gang famously suggests that the rebels should, as an initial step toward utopia, "Kill all the lawyers." Certainly, anyone who has forked over a hefty retainer can sympathize, but can societies function without legal systems? And if so, how? The answer,[In a] broad field that is by its very nature multidisciplinary, Lawlessness and Economics is very straightforward and comprehensive in its survey of this emerging and complex phenomenon. . . . Perhaps the most compelling attribute of this endeavor is Dixit's tenacious ability to place each sectionHow can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics, Avinash Dixit examines the theory of private institutions that transcend or supplement weak economic governance from the state. In much of the world and through much of history, private mechanisms--such as long-term relationships, arbitration, social networks to dis...

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