Monday, May 01, 2017

Weber, law and EC development

Weber argued that a rational system of law played a crucial role in the economic development of
the Protestant West by allowing individuals to order their transactions with some predictability (Weber 1979). The first generation of law and development scholars drew on Weber's sociology to
conclude that, because rational law played an important role in the early development of capitalism, modern-day policymakers concerned with sustaining the conditions of economic growth
should promote the rule of law (Trubek 1972).

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