The history of Commentary on the Law of Prize and Booty is complex. When Grotius’s personal papers were auctioned in The Hague in 1864, scholars discovered that Mare Liberum was just one chapter in...
John N. Drobak , John V.C. Nye
The New Institutional Economics incorporates a theory of institutions into economics. It builds upon the fundamental assumptions of scarcity and competition but abandons institutional rationality....
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