I think a good law will create wealth if it enables a mutually beneficial transaction that would not otherwise be possible.
For example, a law against breach of contract makes you more likely to hire someone you don't know well. That person gets a job, you get an employee, so you're both better off. As long as this benefit is greater than the cost of enforcing the law, that law has created wealth.
I recommend Law's Order by David Friedman for a whole lot more on this subject. It's a fascinating introduction to the application of economics to law.
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I think a good law will create wealth if it enables a mutually beneficial transaction that would not otherwise be possible.
For example, a law against breach of contract makes you more likely to hire someone you don't know well. That person gets a job, you get an employee, so you're both better off. As long as this benefit is greater than the cost of enforcing the law, that law has created wealth.
I recommend Law's Order by David Friedman for a whole lot more on this subject. It's a fascinating introduction to the application of economics to law.
For pedantry's sake, this sounds like enabling wealth rather than creating it. The wealth doesn't originate with the law, so isn't created by it.