From Custom to Law, An Economic Rationale behind the Black Lettering

Guido Rossi and Salvatore Spagano

Journal of Economic Issues, 2018, vol. 52, issue 4, 1109-1124

Abstract: This article employs the number of rule recipients in order to explain the transformation of some customs into laws. The publication of rules may mark the reaching of the threshold number beyond which the spontaneous rule leaves room for the State intervention. In addition, the publication resolves a couple of questions that Hayek left unresolved. Examples are provided from ancient merchant customs and contemporary international law.

Date: 2018
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DOI: 10.1080/00213624.2018.1535953

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