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The General Austrian Civil Code, published in 1811, represents the second significant codification of civil law in Europe after the famous French Code Civil from 1804. OGZ in Croatia and Slavonia was introduced in 1852, when imperial patent no. 246.
Galbraith acknowledges the success of the market economy, but at the same time, according to him, this system is characterized by instability, inefficiency and social inequality. This is why he advocates that state interventionism to correct these market