Infused with law

Here’s something that applies to a great deal of our everyday lives.  It’s so natural the impact in has on our behavior that we take it for granted and don’t even recognize.  Very well written by Don Boudreaux of Cafe Hayek.  Read the full post, The Law of Capitalism Vs. the Lawlessness of Politics.

…capitalism – real capitalism – is infused with law, most of which is self-enforcing.  The manufacturer who pays his suppliers late gets poorer credit terms in the future; the retailer who cheats her customers loses business; the customer who doesn’t pay his bills can no longer buy on credit.

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