Crafting social rules: Common law vs. statute law, once again

Richard Wagner ()

Constitutional Political Economy, 1992, vol. 3, issue 3, 397 pages

Abstract: While a considerable literature has arisen seeking to compare the economic efficiency of common law and statute law processes, some scholars have argued that these efforts are misplaced because what should be assessed is not efficiency but stability of expectations. This paper argues that any generic comparison of common law and statute law must be inconclusive, because there is no such thing asthe common law or statute law process. Rather, there are many particular processes, and any claim based on a comparison of generic alternatives will falter because it will fail to reflect essential institutional detail. Copyright George Mason University 1992

Date: 1992
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DOI: 10.1007/BF02393142

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