“The supremacy of Parliament and the embedding of property rights in Common Law put political power in the hands of men anxious to exploit the new economic opportunities and provided the framework for a judicial system to protect and encourage productive economic activity.”

“The supremacy of Parliament and the embedding of property rights in Common Law put political power in the hands of men anxious to exploit the new economic opportunities and provided the framework for a judicial system to protect and encourage productive economic activity.”

— Douglass North