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Enforcing institutions are not costless, and diminishing returns economic activities simply do not produce sufficient value added to cover the costs of enforcement.
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The judiciary has been described as the least-dangerous branch of government because it has "neither the purse nor the sword," but, in reality, enforcement of the orders of any government institution depends on the enforcing institution's acceptance of the issuing institution's right to make the ruling and to have it enforced.
Some of his publications are: Institutions and the Path to the Modern Economy: Lessons from Medieval Trade, Cambridge University Press (March 2006); Impersonal Exchange without Impartial Law: The Community Responsibility System, Chicago Journal of International Law (2004); How Do Self-enforcing Institutions Endogenously Change?
The former runs through the diffusion of cultural norms, beliefs, and values founded on distrust, the latter through the weakening of trust-enforcing institutions.
At a general level, as the production of economic activities with increasing returns grow relative to diminishing returns the gains from private contracting exceed the costs of enforcing allocative institutions.
Prejudice is solidified, and enforced, through institutions.
The latter is used to enforce economic institutions that support the production structure and by extension, occupational rents.
This in turn created and enforced new institutions that were consistent with the new distribution of occupational rents and economic structure.
Unfortunately, there is no Portuguese law or regulation enforcing health care institutions to have complete and secure audit trails in their own institutions and the initiatives such as HIPAA, HITECH or EuroRec are still not considered when defining the security requirements for new Healthcare Information Systems.
He told the BBC The integration of the eurozone, which we think is necessary to make the single currency work, is not taking place within the full panoply of the European treaties, with the full deployment of the European institutions enforcing those treaties.
Yet it is the most specific on "crime prevention" – by creating special courts for addicts, turning prisons into correctional institutions, enforcing the rules on immigration and residency, strengthening the National Crime Agency, enacting a Victims' Bill of Rights, and bringing victims into the judicial process.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com