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Law and Economics is an established field of research and arguably one of the few examples of a successful interdisciplinary project. This book explores whether, or to what extent, that interdisciplinarity has indeed been a success. It provides insights on the foundations and methods, achievements and challenges of Law and Economics, at a time when both the continuing criticism of academic economics and the growth of empirical legal studies raise questions about the identity and possible further developments of the project. Through a combination of reflections on long-term trends and detailed case studies, contributors to this volume analyse the institutional and epistemic character of Law and Economics, which develops through an exchange of concepts, models and practices between economics and legal scholarship. Inspired by insights from the philosophy of the social sciences, the book shows how concepts travel between legal scholarship and economics and change meanings when applied elsewhere, how economic theories and models inform, and transform, judicial practice, and it addresses whether the transfers of knowledge between economics and law are symmetrical exchanges between the two disciplines.
Economists have not always been on friendly terms with scientists from other fields. More than once, economists have been accused of 'imperialism' or criticized for neglecting the insights obtained in other fields. The history of economics, however, yields manifold examples of interdisciplinary 'borrowing' where economists have adapted concepts and
Ancient Rome is the only society in the history of the western world whose legal profession evolved autonomously, distinct and separate from institutions of political and religious power. Roman legal thought has left behind an enduring legacy and exerted enormous influence on the shaping of modern legal frameworks and systems, but its own genesis and context pose their own explanatory problems. The economic analysis of Roman law has enormous untapped potential in this regard: by exploring the intersecting perspectives of legal history, economic history, and the economic analysis of law, the two volumes of Roman Law and Economics are able to offer a uniquely interdisciplinary examination of the origins of Roman legal institutions, their functions, and their evolution over a period of more than 1000 years, in response to changes in the underlying economic activities that those institutions regulated. Volume I explores these legal institutions and organizations in detail, from the constitution of the Roman Republic to the management of business in the Empire, while Volume II covers the concepts of exchange, ownership, and disputes, analysing the detailed workings of credit, property, and slavery, among others. Throughout each volume, contributions from specialists in legal and economic history, law, and legal theory are underpinned by rigorous analysis drawing on modern empirical and theoretical techniques and methodologies borrowed from economics. In demonstrating how these can be fruitfully applied to the study of ancient societies, with due deference to the historical context, Roman Law and Economics opens up a host of new avenues of research for scholars and students in each of these fields and in the social sciences more broadly, offering new ways in which different modes of enquiry can connect with and inform each other.
This book is a continuation of Corporate Law and the Theory of the Firm: Reconstructing Corporations, Shareholders, Directors, Owners, and Investors. The author extends his analysis of contract law, property law, agency law, trust law, and corporate statutory law and applies that analysis to defy conventional concepts and theories in economics, finance, investment, and accounting and expose the artificial boundaries established by decades of research founded on indefensible assumptions and fallacious conclusions. Using the Humpty Dumpty principle, where words mean what the authors want them to mean, economists have created "strange new worlds" where contract law, property law, agency law, and corporate statutory law no longer apply. The author dismantles the theory of the firm by proving the theory of the firm wilfully and intentionally ignores fundamental contract law, property law, agency law, and corporate statutory law. Contrary to the theory of the firm, shareholders do not own corporations, directors are not agents of shareholders, and shareholders are not investors in corporations. The author proves that by property law and corporate law, capital is not privately owned by capitalists but by corporations. Entire economic and social systems have been constructed that have no basis in law. With the advent of publicly traded corporations, the capital is there, but both capitalists and capitalism have been rendered extinct. This book will appeal to researchers and graduate and upper-level undergraduate students in economics, finance, accounting, law, and sociology, as well as legal scholars, attorneys and accountants.
This volume investigates advances in the field of legal translation both from a theoretical and practical perspective, with professional and academic insights from leading experts in the field. Part I of the collection focuses on the exploration of legal translatability from a theoretical angle. Covering fundamental issues such as equivalence in legal translation, approaches to legal translation and the interaction between judicial interpretation and legal translation, the authors offer contributions from philosophical, rhetorical, terminological and lexicographical perspectives. Part II focuses on the analysis of legal translation from a practical perspective among different jurisdictions such as China, the EU and Japan, offering multiple and pluralistic viewpoints. This book presents a collection of studies in legal translation which not only provide the latest international research findings among academics and practitioners, but also furnish us with a new approach to, and new insights into, the phenomena and nature of legal translation and legal transfer. The collection provides an invaluable reference for researchers, practitioners, academics and students specialising in law and legal translation, philosophy, sociology, linguistics and semiotics.
Providing another key contribution to the immensely popular field of law and economics, this book, written by the doyen of the history of economic thought in the US, explores the dynamic relationship between economics, law and polity.Combining a selection of old and new essays by Warren J. Samuels that chart a number of key themes, it provides an i
Legisprudence considers a variety of perspectives and relies on contributions from numerous different disciplines. Rather than providing examples of the various possible approaches to legisprudential studies, this book – bringing together lawyers and legal theorists from seven different countries – highlights two aspects of the many disciplines involved. Firstly, it discusses theoretical abstraction, which borders on, or enters into the realm of full-fledged philosophical speculation. Secondly, it examines empirical observation of specific cases, precisely situated regarding their spatial or historical collocation, or referring to a particular species of legislative policy. Focusing on legislation both as a process and as a result, the aim of the book is twofold: on the one hand, it demonstrates that, far from being a purely theoretical and exclusively academic intellectual enterprise, legisprudence can offer criteria for both assessing and improving the quality of real-world legislation. On the other hand, it shows how lawmaking is at least as interesting and legitimate a field of inquiry as adjudication and interpretation of laws for legal theorists and philosophers of law, and that they are already equipped with extremely valuable intellectual tools for fruitful legisprudential inquiry. The book is organized in two parts. The first part comprises legal-theoretical accounts on general aspects of legislation as a process and as a result. The second part presents contributions focusing on specific experiences of evaluations of legislative quality and contributions to the legislature’s work on the part of the public, as well as on particular legislative policies, methodologies in lawmaking, and problems regarding legislation as an instrument.
Poverty still persists in today’s low-income countries despite decades of international aid, and extensive research on the determinants of growth and development. The book argues that meeting this challenge requires a holistic understanding of the context-specific factors that influence economic behavior and structures in poor countries. Contextual Development Economics approaches this task by offering a methodology that allows analysing the dynamic interrelations between economic, cultural and historical determinants of economic life in low-income countries. The book starts with an empirical inquiry into the economic characteristics of low-income countries that create the context by which the specific forms of organising economic activity in these countries are determined. It then looks at how different generations of development economists sought to explain economic realities in low-income countries from the 1940s through today. The book finally synthesises the results from this empirical and methodological analysis with insights from an inquiry into contributions of the German Historical School, from which it borrows the concept of the economic style as a methodological alternative to the universal and hence often irrelevant models of mainstream development economics. This book offers a promising perspective for the future of development economics that will be of interest to researchers and development practitioners alike. It will also be relevant for academics and students with an interest in applications of the method and concepts of the Historical School to contemporary problems.
Contemporary law and economics has greatly expanded its scope of inquiry as well as its sphere of influence. By focussing specifically on a comparative approach, this Handbook offers new insights for developing current law and economics research. It also provides stimuli for further research, exploring the idea that the comparative method offers a valuable way to enrich law and economics scholarship. With contributions from leading scholars from around the world, the Handbook sets the context by examining the past, present and future of comparative law and economics before addressing this approach to specific issues within the fields of intellectual property, competition, contracts, torts, judicial behaviour, tax, property law, energy markets, regulation and environmental agreements. This topical Handbook will be of great interest and value to scholars and postgraduate students of law and economics, looking for new directions in their research. It will also be a useful reference to policymakers and those working at an institutional level.
Law, market theory and semiotics together provide a challenging new perspective on economic analysis of law.