Sir Edward Coke and the struggle for a new constitutional order

Abstract

Modern struggles to form constitutional orders based on liberal principles are fraught with risk. There may be little in the way of private reward for those who lead the struggle. Such things as free markets, property rights protection amd freedom to contract are public goods. Ideology is apparently important. At the same time, the successful leader must be equipped with a number of scarce skills, including knowledge of markets and how they operate. Lessons learned from England's 17th century constitutional revolution tell us that constitutional entrepreneurs do emerge. Sir Edward Coke, England's most eminent lawyer of that period, was such a person. Over his lifetime, Coke led an intellectual and political struggle based on his belief that fundamental law came from the people, that kings and parliament were subservient to Common Law and the Magna Charta. These were to be the basis of England's constitution. Coke's legal decisions and arguments contain far more than mere assertion. They reflect impressive understanding of the market process, monopoly restrictions, free trade, and the fundamental force of freedom to contract. His leadership, fueled by an ideological commitment, was coupled with extraordinary intellect.