Donald Boudreaux, an economics expert from George Mason University, dives into how common law and market norms emerge organically without top-down intervention. He discusses the incentives behind individuals spending their own money versus others', emphasizing the wisdom in traditionally evolved rules. Boudreaux also differentiates law from legislation, highlighting the unpredictability of parliamentary law. Insights from Buchanan and Hayek reveal the complexities of societal contracts and the impact of decentralized processes on legal frameworks.