Open Thread: Economies and Constitutions

I thank co-blogger Sonia for her contribution on indecency. I'll keep this brief so we can flesh it out more in the comments, but I'd like to hear some thoughts on economics being cabined by constitutions. James M. Buchanan, the original "constitutional economist," stressed the reinforcing potential afforded by first-order law. That is, its ability set contract-conducive parameters by being permanent and widely regarded. That longevity, the theory goes, fosters confidence and innovation by being a surety against tyranny, destabilisation, etc. It's like an indemnity against catastrophic risk. But, certainly there are counterexamples? Certainly there are some entrenched laws–similar in universal appeal, equivalent in endurance–that could sabotage that very purpose. What can you come up with?