Economic Development and Cooperation

Paper Summary:

The paper describes Khan's view that increased market exchange will have as its consequence an increased tendency for persons to settle disputes out of court. Khan cites Adam Smith's view, stating that an increase in economic transactions lead to a better chance of a civil society. This is the hypothesis that is addressed throughout Khan's paper. The writer finds Khan's arguments more convincing in that she admits possible shortcomings of her view. The paper shows that Khan substantiates her arguments and refutes the opposition several times in her article. In conclusion, the writer agrees with Khan's point of view as it has been presented logically and with sufficient court evidence to support her views.

From the Paper:

"Through tabulated data Kahn shows that courts in the early years of the colony were very busy and often had to travel great distances to settle disputes. With economic development district courts were set up in each area. These were accessible to all by keeping the litigation costs low. This resulted in a greater amount of cases taken to court. Another reason for an increase in trials during this period, according to Khan, is that courts often served as a substitute for other public institutions that were unavailable or unreliable at the time. One could also see this as a period of uncertainty, where laws and rules had to be explained by experts and were not yet commonly known. However, with the growth of the market and legal capital, standards also become more predictable and the rules become generally known. Thus economic growth leads to a greater degree of cooperation between parties. The tables that Khan presents substantiate the hypothesis that economic growth increases certainty in terms of the law. "

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• Analytical Essay # 59882 : "Economic Models of Cooperation"

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