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Legal Design for Market Democracies

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Producing Law For Innovation, Gillian K. Hadfield Dec 2010

Producing Law For Innovation, Gillian K. Hadfield

Gillian K Hadfield

In this contribution to the forthcoming Rules for Growth prepared by the Kauffman Task Force on Law, Innovation and Growth, I first discuss why we need to think of legal infrastructure as economic infrastructure requiring focused economic policymaking, what is wrong with our existing legal infrastructure and why we need to change our modes of legal production. I then set out a vision of what greater reliance on market-based production of legal infrastructure could look like. Finally, I suggest some concrete steps that policymakers can take to move us toward a more open, competitive system of legal production. These include …