ConstComm - Constitutions and Commitment North and Weingast...

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Constitutions and Commitment North and Weingast Role of Political Factors Rules not enough - institutions governing rules also must be examined Can the sovereign alter rules? “Set of rights” important, but also the commitment to uphold them Can set a pattern of responsible behavior Can be constrained by rule of law 17th c. England Early phase an arbitrary government - Stuarts Expropriates wealth by redefining property rights Cause of eventual Civil War 1641 Experiment with government by Parliament alone 1649-1660 Restoration 1660 Return to bad habits, reduction in property rights Leads to - - - Glorious Revolution1688 1620s-40s in depth Government funded by King - extended household Kings lands only providing 1/2 revenue needed Sale of lands makes this worse Look for other forms of wealth 1630s new customs impositions, forced loans, sale of monopolies, expanded peerage for sale, Purveyance, court of wards, dispensations
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This note was uploaded on 02/17/2009 for the course ECON 4514 taught by Professor Shuie during the Spring '08 term at Colorado.

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ConstComm - Constitutions and Commitment North and Weingast...

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