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Winter 2016

ISSN 0890-913X

Volume 31, Number 4

Categories: Winter 2016 | Law

The Pitfalls of Legislative and Executive Policymaking Compared to Judge-Made Law

Slavisa Tasic, University of Mary

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TheJournalofPrivateEnterprise31(4),2016,43–63ThePitfallsofLegislativeandExecutivePolicymakingComparedtoJudge-MadeLawSlavisaTasicUniversityofMary______________________________________________________AbstractThisarticleusesinsightsfromcognitivepsychologytocontrastjudge-madelawwithlegislativeandexecutivepolicymaking.Iarguethatthepredominantnarrowconceptionsofreasonandrationalityhaveledtooverlyoptimisticviewsofdeliberatepolicymakingattheexpenseoftraditionaljudge-madelaw.However,alternativeviewsofwhatconstitutesrationalitysuggestthatjudge-madelawmayhavesomeoftenoverlookedadvantagesoverdeliberatepolicymaking.______________________________________________________JELCodes:K1,D72,D80Keywords:rules,judiciary,experts,heuristics,ecologicalrationalityI.IntroductionTheliteratureontheputativeeconomicadvantagesofcommonlawovercivillawissubstantial.Anumberofauthorshavearguedthattheinstitutionaladvantagesofcommonlawstemfromthedifferentstructuresofgovernmentthatarecharacteristicofdifferentlegalframeworks.Themainsourceofthesuperioreconomicperformanceofcommonlawsystems,inthisview,isthegreaterindependencethatcommonlawjudgesenjoy(Hayek1960;Merryman1996;GlaeserandShleifer2002;KlermanandMahoney2007).Whilebothcommonlawandcivillawjudgesmayenjoynominalindependencefromgovernmentintermsofsecurityofappointmentandsalary,commonlawjudgesalsohavesubstantialbehavioralindependenceassociatedwiththeirlawmakingpower.Theweakerjudicialprotectionincivillawcountriestranslatesinto,onaverage,moreinterventionistgovernment,morebureaucracy,heavierregulation,andlesssecurepropertyrights—and,therefore,inferioreconomicperformance.Adifferentkindofargumentinfavorofcommonlawpointstothenatureofthelawitself,andinparticulartheadaptabilityofcommonlawontheonehandandtherigidityofcivillawontheother.Posner(1973)makesthecaseforcommonlawbyarguingthat

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Title	The Pitfalls of Legislative and Executive Policymaking Compared to Judge-Made Law
Authors/Creators:	Slavisa Tasic, University of Mary
Year:	2016
Volume:	31
Number:	4
Pages:	43 - 63
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	rules, judiciary, experts, heuristics, ecological rationality

Citation:
Tasic, Slavisa / 2016. "The Pitfalls of Legislative and Executive Policymaking Compared to Judge-Made Law." The Journal of Private Enterprise, 31(4): 43-63.