So the law must pre-empt what would happen, and be guided by essentially the most environment friendly answer. The concept is that law and regulation aren’t as important or efficient at serving to individuals as legal professionals and government planners believe. Coase and others like him wanted a change of method, to put the burden of proof for positive results on a authorities that was intervening in the market, by analysing the costs of motion. European Union law is the primary and thus far the only example of a supranational law, i.e. an internationally accepted authorized system, other than the …