kaal:claim:3782210-004

Strict legal enforcement becomes impossible once a market is sufficiently complex and dynamic, because law cannot keep pace with the creative contracts that leading experts continually invent.

Source quote, verbatim

Strict legal enforcement is not pos- sible when the market becomes sufficiently complex and dynamic—laws cannot keep up with the creative contracts that arise when leading experts are continually improv- ing business arrangements.

From

Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021), Chapter. Reputation, p. 2
https://ssrn.com/abstract=3782210 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782210

Holds when

complex and rapidly evolving markets
markets where experts continually improve business arrangements

Classification

failuresupport: arguedfailure: Regulatory pacing failurefamily: regulatory-laglaw-and-legal-systemscompliancedynamic-regulationinnovation

Verify

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