Understanding Capitalism

Sardón J.L. · Yale Journal on Regulation (2025)

Resumen

George L. Priest’s research included a deep insight into the legal basis of capitalism. From his perspective, capitalism emerges from the rule of law and constitutional democracy, as property rights and competition require a limited government. The United States Constitution enabled the success of the United States’ economy by concentrating on limiting power. Priest’s work suggests that Latin American countries undertake institutional reforms oriented to a similar objective for getting their economies to take off.

Instituciones: Universidad de Piura