is there a pithy law & economics term for “the law as various observers believe it to be” vs what it actually is in practice?
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not quite because this is about mistakes about both
could be mistaken about what the law says (high information cost to find out) and how it’s enforced (same)
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I was reading this paragraph from Searle’s “Literal Meaning” when I saw this tweet, and it strikes me there is some connectionpic.twitter.com/od2lopWFqF
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oh my god
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