Blockchain Lessons for Capitalism: Applying Adam Smith’s Wisdom to Our Mistakes

Remarks at the Panel from the “New Enlightenment Conference: Reshaping Capitalism and the Global Order in a Neo-Mercantilist World,” Session on “Entrepreneurship and Innovation in an Age of Uncertainty (video, starting min. 5:10),” Panmure House, July 2, 2019, Edinburgh. The emergence … Continue reading

The Limits of Blockchain in Property: Trading Claims is not Trading Rights

The law-and-economics of property throws doubts on the prospects of blockchain for transacting durable high-value assets. You are free to sell your house contractually through a deed or, perhaps, a blockchain even if it is partly owned by your spouse … Continue reading

Property as Sequential Exchange: The Forgotten Limits of Private Contract

In this paper, published at the Journal of Institutional Economics (2017), I trace the disconnection between economic analysis and property law as well as repeated policy failures in land titling and administrative simplification to a theoretical choice: most law-and-economics analyses … Continue reading

Will ‘Doing Business’ Keep Damaging Business?

Arruñada, Benito (2008), “Will Doing Business Keep Damaging Business?,” Journal of Comparative Economics, in press. Accepted manuscript version available online in ScienceDirect since April 27, 2008 (doi:10.1016/j.jce.2008.04.001). The success of the Doing Business project (for herein, denoted DB) has made … Continue reading