On this view the decisive failure is legal rather than economic: proponents argue that where the state is not pluralistic and the law is applied unevenly, no commitment is credible, so exchange and investment shrink to what trust alone can carry.
On this view the decisive failure is legal rather than economic: proponents argue that where the state is not pluralistic and the law is applied unevenly, no commitment is credible, so exchange and investment shrink to what trust alone can carry.