What worries me is that even in the Common Law countries we are now so hemmed in by regulations and incumbent protections that innovation is being stifled.

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In some countries, such as Turkey and Mexico, the law is based on the French Napoleonic model where secured creditors may not collect as much as in common-law countries.

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These countries needed the capability for law enforcement reasons that are common throughout the world.

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And squabbles over inheritance are more frequent in common-law countries, where wills are more casually drawn up, says Leon Verstappen of the University of Groningen.

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