Social norms and the law: an economic approach

Article Abstract:

Four motivations for adhering to norms provide insights into the link between law and norms. Law, as exemplified by the lawful enforcement of contracts, serves as a supplement and replacement for norms. Norms arise from contracts, and these norms have specific activities of which a central legal authority has no control owing to lack of enough information. The lawful implementation of contracts supplements norms that do not otherwise exist. This is proven by the adherence to many contracts, by considerations of reciprocity, even without a sure method of lawful enforcement.

Social norms

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Income, growth, and economic freedom

Article Abstract:

Market socialism should be organized along a continuum with pricing policy and ownership as its major attributes. These two characteristics are inclined to have a positive relationship. A comparison between Hong Kong and communist countries Czechoslovakia, Poland, Romania and Hungary in 1985 reveals a marked difference in steady-state income. This difference should be considered even by booming China. A higher economic freedom in China, and not a continued focus on market socialism, will result in economic progress.

China, Economic aspects, Economic development, Free enterprise, National income

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Generations and the distribution of economic well-being: a cross-national view

Article Abstract:

Differences on income, poverty rates and social expenditures by age group exist between Sweden, UK, Canada and the US. Sweden, Canada and the US are faced with an aging society. Canadians opt toward early retirement compared to the other 3 nations. Younger and older households have high poverty rates in the US than the other 3 nations. Middle-aged familes have the lowest poverty rates and the highest incomes in all countries.

People by Income, United Kingdom, Canada, Sweden, Demographic aspects

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