Max Sawicky writes: >> How would we know that the code is "a primary, if not the >> primary, reason for the economic success of the United States."?
I did not say the Bankruptcy Code was the reason. I referenced the independence of our judicial system, combined with the system's general institutional behavior of enforcing contracts, laws, rules notwithstanding the relative morality of the parties. How do we know anything? Reasoned argument based upon evidence. There is a reason the US has a huge trade deficit, meaning US dollars return to the US as investment and not purchases -- foreigners trust the US courts that their investments will be protected. There are many countries where that it simply not true (or at least relatively not true compared to the US) and their economies reflect that fact. David Shemano _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
