Law and Market Economy
Reinterpreting the Values of Law and Economics
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Product details:
- Publisher Cambridge University Press
- Date of Publication 10 August 2000
- ISBN 9780521787314
- Binding Paperback
- No. of pages190 pages
- Size 228x153x13 mm
- Weight 270 g
- Language English 0
Categories
Short description:
Law, market theory and semiotics together provide a challenging new perspective on economic analysis of law.
MoreLong description:
This integrated study of law, economics and Peircian semiotics re-examines the relationship between law and market theory, and introduces the idea of law and market economy. Overcoming the traditional dichotomy between efficiency and justice, Malloy focuses on the relationship between creativity, entrepreneurism, and sustainable wealth formation. he shows how creativity and sustainable wealth formation have more to do with an ethic of social responsibility than with a concern for economic efficiency. In presenting his case, Malloy uses numerous examples as he reinterprets classic problems related to rational choice, the Coase Theorem, public choice, efficient breach, social contract theory, and wealth maximization, among others.
'Malloy develops a semiotic interpretation of work in law and economics that links exchange and creativity to ethical values. The result is a powerful new perspective on law and markets that brings to mind work from Hayek to Hurst. This book is an exceptionally important contribution to contemporary scholarship on the nature of Law.' John Brigham, University of Massachusetts, Amherst, and Member of the Board of Trustees of the Law and Society Association
Table of Contents:
1. Introduction; 2. A general framework; A basic introduction to semiotics; A brief overview of the general argument; 3. Law and market economy: further clarification; Market as community; Market as a process of semiotic signification; 4. Wealth as a process of discovery (wealth, discovery, and imaginative choice); Coase's theorem; Public choice; 5. Social organization and the discovery process; The relationship between social organization and proactive wealth formation; An ethic of social responsibility for law and market economy; Outlining an ethic of social responsibility (humility, diversity, reciprocity); The ethic of social responsibility and wealth: some supportive evidence; 6. Implications of law and market economy; Efficiency does not maximize wealth; An extensive distribution promotes wealth; Rhetorical strategies have consequence; 7. Conclusions.
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