- English law suffers from a ‘free-rider problem’, which leads to an ‘underprovision’ of English law compared to the socially optimal level of investment that is consistent with maximising the benefits that English law brings to the UK economy. This reduces the extent to which the UK maximises the overall benefits of English law.
- Coordinated action across different sectors of the economy, as well as with the government, is required to achieve the biggest impacts in promoting the use of English law. Several areas require further discussion between the private sector and the government to effectively manage English law in a way that maximises the economic value for the UK economy from this national asset.
Sections in this chapter: