Decentralized Law Is a Tax

Under common law, social norms are stable and low time preference behavior results. Longer term projects can be completed and capital invested instead of squandered. There is also a notable lack of rent seeking, as there is no central bureaucracy to feed itis. Hong kong, dubay, australia and many other places have thrived under a decentralized law standard. And allows for long term planning. Legislation is a tax. We need to rethink legislation politically. Society can win if it embraces de centralized law.