CIVIL AUTHORITY AND THE ARTICULATION OF MARKETS

Markets, law, and regulation ave intimately intertwined. Thus, recent studies (by Morton Keller and Donald McCloskey et al.) of the intersec tion between public policy and the economy are both necessary and welc ome. But the absence in there works of a nuanced conceptualization of the critical, constructive vole of civil authority in the creation and maintenance of open, competitive markets, and the virtual absence of a concern for and understanding of the engines of veal economic growth , results in scholarship, that only weakly articulates the profound li nkage between civil authority, open markets, and economic growth.