Lessons from the Past: Legal Transformation in Germany of the 19th Century

Rainer Schroeder

Journal of Institutional and Theoretical Economics (JITE), 2000, vol. 156, issue 1, 180-

Abstract: During the 19th century, markets exploded liberally before the state began to intervene to compensate for undesired social deterioration. In the second half of the 19th century, however, legislation largely locked up itself, except for laws which dealt mainly with technical modernization, such as infrastructure, communications, transport, establishment of formal justice, and civil and trade law. The Second German Empire was a "system of circumvented decisions", where courts took over the job of adjusting the law to the economic situation. Apparently only in rare cases it is the law which controls economic processes; normally, it will have a rather minor impact.

JEL-codes: B10 K00 K29 K40 (search for similar items in EconPapers)
Date: 2000
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