Big law *is* an enormous transaction cost. The best way to reduce uncertainty is to consolidate authority, which actually means reducing
Nope, that's not the problem at all. Congress has tried. Things get reinterpreted Talmudically. We need a king.
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"lets make this complicated as hell" is not a good business model. big law firms doing so would be out-competed.
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the independent judiciary is an awful idea, but if a King passed an obtuse law the result would be the same as it is now
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Law itself, in the way you're thinking of it, is the problem.
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Does a small tribe spend its time on this stuff? Of course not. They go to the tribal elder and a decision is made efficiently.
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You might say that scale requires this sort of law, and that may be at least somewhat correct. But reducing scale is also conceivable
End of conversation
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