| ‘Modern’ Securities Regulation[10] | 1939 | 1933 | |||
| Income Tax | 1842 (UK) | 1842 | 1913 | ||
| Social Welfare and Labour Institutions | |||||
| Industrial Accident Insurance | 1871 (Germany) | 1898[d] | 1930 (USA, Canada)[d] | 1897 | 1930 |
| Health Insurance | 1883 (Germany) | 1911[d] | Still absent in the USA[d] | 1911 | Still absent |
| State Pension | 1889 (Germany) | 1909[d] | 1946 (Switzerland)[d] | 1908 | 1946 |
| Unemployment Insurance | 1905 (France) | 1920[d] | 1945 (Australia)[d] | 1911 | 1935 |
| ‘Modern’ Child Labour Regulation[11] | 1878 (UK/Prussia) | 1878 | 1938 | ||
Source: The text.
* The institutions entered in italics denote ‘pre-modern’ varieties, which fell so short of modern standards in terms of coverage and enforcement that they are usually better regarded in a different category to their ‘modern’ descendants.
a. Out of the 19 countries for which the information is available (Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, UK, USA).
b. Out of the 17 countries for which the information is available (Austria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, USA). At this time, the German states that had patent law were Prussia, Bavaria, Wurttemberg, and Saxony. The Italian states that had it were Sardinia and the Vatican State.
c. Out of the 11 countries for which information is available (Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, Switzerland, UK, USA).
d. Out of the 17 countries for which information is available (Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Sweden, Switzerland, UK, USA).
e. Out of the 15 countries for which information is available (Austria, Belgium, Denmark, France, the Netherlands, Italy, Norway, Portugal, Prussia, Saxony, Spain, Sweden, Switzerland, UK, USA).
1. ‘Modern’ patent law is defined as a patent law that has provisions such as strict checks on originality of the invention, equal protection of foreign citizens’ invention, and patents on chemical and pharmaceutical substances.
2. ‘Modern’ copyright law is defined as a copyright law that, above all, provides equal protection of foreign citizens’ copyrights.
3. Until 1988, the USA did not acknowledge foreign citizens’ copyrights unless the material had been printed in the USA
4. Banks were only given limited liability in 1857 and insurance companies in 1862.
5. ‘Modern’ bankruptcy law is defined as a bankruptcy law that applies to everyone without any asset threshold and gives the debtors a second chance.
6. ‘Modern’ auditing and disclosure rules require external auditing, reporting of up-to-date balance sheets, and the disclosure of detailed information.
7. ‘Modern’ banking is defined as banking with very wide coverage, little insider lending, and one price
