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Hammurabi’s Code


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The Babylonians understood that the builder will always know more about the risks than the client, and can hide fragilities and improve his profitability by cutting corners — in, say, the foundation. The builder can also fool the inspector; the person hiding risk has a large informational advantage over the one who has to find it.

So is that just human nature? And if so should the law protect us from it?

Yes, but the devil is in the degree to which.

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