Content summary:In the past, institutional economists attributed Western economic growth mainly to the democratic system，However，From the perspective of bet365 sports history，By comparing early modern England and China，It can be found that the legal system is an important part of the country's establishment of authority，People comprehensively use a set of non-litigation dispute resolution mechanisms, including courts, to deal with debt disputes。So，People will form a legal awareness，They will expect the law to provide institutional guarantees for their dispute resolution，This can lead to economic savings in transaction costs。In the 18th century，Formalization of UK credit markets strengthened，A new type of public court to handle debt litigation was established。Laws are not just rules，It is also the way of organizing bet365 sports relations。Institutional arrangements are not only related to economic growth，It also affects the way different members of society participate in the economy。

Craig Muldrew，Professor of History, University of Cambridge, UK，Research direction is British economic and bet365 sports history from 1500 to 1700，The author of "The Economy of Obligation: The Culture of Credit and bet365 sports Relations in Early Modern England" (1998) and "Food、Energy and the Revolution of Industry: Work and Material Culture in Agrarian England, 1550-1780" (Food, Energy and Creation of Industriousness:Work and Mateiral Culture in Agarin England, 1550-1780）（2011）。

Email: jcm11@cam.ac.bet365 sports

Translated by Li Ke