How free-market economics reshaped legal systems the world over
Friedrich Hayek’s followers promised growth. They may have overpromised
The legal system that operates in the United Arab Emirates (uae)—like that in many countries across the Gulf—is a blend of French civil and Islamic Sharia law. But this summer Dubai announced that it was exploring the introduction of English common law to 26 free-trade zones. These are jurisdictions that are exempt from local taxes and customs duties, and have their own independent legal systems and courts. The region is increasingly dotted by such common-law islands, reflecting the belief that the Anglosphere’s legal tradition is better for business.
This article appeared in the Finance & economics section of the print edition under the headline “Not so civil anymore”
Finance & economics October 21st 2023
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