Almost all theorizing about law, including the rule of law, begins with government. Analysts from a wide variety of perspectives make this presumption. We contest this presumption. In this paper, we ask whether rule of law is an equilibrium in the absence of private ordering. To address this...

Few social scientists have equaled the impact on political science of Douglass C. North, co-winner of the Nobel Memorial Prize in Economics in 1993. His extraordinary influence emanated from his ideas but was also a result of his vast social network of collaborators, students, and friendly...

This paper extends the North, Wallis, and Weingast (2009) framework for understanding the problems of development. Our approach distinguishes two development problems that are normally conflated. Most approaches to development focus on the second problem, namely, the transition of societies from...

Previous studies have argued that democracy diminishes the extent to which contests over political leadership depress economic growth, by reducing the violence and uncertainty attendant on such contests. We reconsider the theoretical basis for this claim, highlighting the separate roles of...

Most people in medieval Europe lived at subsistence in a violent feudal world. Adam Smith explained both the long-term stability of the feudal system and how the towns escaped this violence trap through political exchange that fostered their ability to enter long-distance trade, significant...

The purpose of this short paper is to demonstrate that in the modern era Adam Smith scholars make a surprising variety of claims about the “main point” of the Wealth of Nations. In these notes, I collect a range of statements asserting the main point and arrange them by categories. Most...

Adam Smith scholars have debated the nature and contents of his missing second book on jurisprudence or politics. Istvan Hont, a long-time participant in this literature, has proposed a construction of Smith's politics based on two principles introduced in the Lectures on Jurisprudence that...

Adam Smith proposed three contradictory theories of the British Empire in the Wealth of Nations. The first view holds that the empire was created for merchants eager to monopolize the colonial trade. Smith concludes that “Great Britain derives nothing but loss” from the colonies. In the...

In this paper I discuss Deirdre McCloskey's argument that “ideas, not capital or institutions,” were the cause of the “great enrichment,” the spectacular growth of the world economy since 1800. I disagree that the ideas of liberty and equality alone caused the great enrichment but agree...

In the Athenian law-courts, wealthy, educated, and powerful elites fought one another to prevail as leaders and advisors of the masses. Regulated by the masses' ideals of a good society, elite competition pushed Athens toward stability, prosperity and cultural immortality. Or did it? This...