Categorías: CONFERENCIA | DERECHO | ECONOMIA

Different Legal Systems: Costs and Benefits

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Bruce Benson

March 10, 2005 | Universidad de San Carlos de Guatemala | Duración:..

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Content

Initial credits
Introduction: Alternative solutions to our problems
Definition of law
- Command theory of law
- Definition of Herbert Lionel Adolphus Hart
  - Primary rules of obligation
  - Secondary rules
    - Rules of recognition
    - Rules of adjudication
    - Rules of change
  - Legal system
- The purpose and consequences of making laws
  - Ways to pursue one's well-being
    - Cooperation
    - Taking wealth from other people
  - Encourages cooperation
  - Facilitates involuntary transfers
Different kinds of law
- Authoritarian law
- Customary law
The development of a customary law system
- The historical background of Lex mercatori
  - Economic situation in the 10th Century: The Commercial Revolution
  - Development of the merchant class
  - Development of an alternative to trust
- Medieval merchant law as a legal system
  - Rules of recognition
    - Incentives to recognize these laws
    - Threats in this system
  - Rules of adjudication
    - Establishment of a court
    - Necessity of having their own courts: credit
  - Rules of change
    - Dispute resolution
    - The extent of a contract
  - Standarization of commercial rule in Europe in the 11th century
- Customary law today in the international trade
  - Constrain the role of governments
  - Arbitration
  - Ostracism
Development of an authoritarian law system
- Incentives of the kings to monopolize law
- Limitations of the kings to impose law on commerce
- Measures made in order to impose law
  - Monopoly privileges
  - Limited entry to guilds
- Kind of making laws
  - Law of a competitor: Be fair
  - Law of a monopolist: Maintain control
- Accumulation of large colonial empires
  - Situation of the British Empire
    - Monitoring of merchandise: Control of commerce by the king
    - Consequences of this measure
    - Competition between the Parliament and the King in the 16th century
Alternatives to state law
- Alleged benefits for authoritarian law
  - Standarization argument
  - Law as a public good
- Costs of authoritarian law
  - Rent seeking costs
  - Rent avoidance costs
  - Creation of methods to avoid law
  - Enforcement costs
  - Uncertainty costs
  - Inefficient allocation of resources
Question and answer period
- How do customary and authoritarian law interact and develop in a country?
- With the approbation of the NAFTA, how many informal economy will be left aside and what benefits will they get?
Final credits

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Different Legal Systems: Costs and Benefits
Dr. Bruce Benson

S-11 Building
Universidad de San Carlos de Guatemala
Guatemala, March 10, 2005

A New Media - UFM production. March, 2005
Camera 1: Jorge Samayoa; camera 2: Rodrigo Escalante; digital editing: Alexander Arauz; index: Christiaan Ketelaar, GML: Pedro David España

This work is licensed under a Creative Commons 3.0 License
Este trabajo ha sido registrado con una licencia Creative Commons 3.0

Bruce Benson

Bruce Benson is senior fellow at the Independent Institute, the DeVoee Moore Research Professor of Economics at Florida State University and Contributor Editor of The Independent Review. Previosly, he taught at Pennsylvania State University and Montana State University. He holds a BA and MA in Economics from University of Montanta; and a PhD in Economics from the Texas A&M University. He received the 2006 Adam Smith Award from the Association of Private Enterprise Education (APEE) and the Liberty in Theory 2007 Lifetime Achievement Award from Libertarian Alliance.

Source: mailer.fsu.edu
Last update: 08/02/2011

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