• 00:00    |    
    Initial credits
  • 00:30    |    
    Introduction: Alternative solutions to our problems
  • 02:15    |    
    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
  • 10:39    |    
    Different kinds of law
    • Authoritarian law
    • Customary law
  • 13:13    |    
    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
  • 31:28    |    
    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
      • Monitoring of merchandise: Control of commerce by the king
      • Consequences of this measure
      • Competition between the Parliament and the King in the 16th century
  • 40:35    |    
    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
  • 48:06    |    
    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?
  • 56:43    |    
    Final credits

Different Legal Systems: Costs and Benefits

New Media  | 10 de marzo de 2005  | Vistas: 24


Bruce Benson is senior fellow at the Independent Institute, the DeVoee…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín