Law and Market Economy: Reinterpreting the Values of Law and Economicsby Robin Paul Malloy
Pub. Date: 09/28/2003
Publisher: Cambridge University Press
This synthesis of law, philosophy and market theory provides a new jurisprudence of exchange and a new understanding of the marketplace. Malloy presents a fundamental critique of the traditional economic analysis of law based on the division between efficiency and justice, proposing an alternative approach through semiotic analysis and the relationship between creativity and efficiency. He examines the meaning and structure of the market exchange process through the broader perspective of human relationships, creativity, and experience, providing a challenging new perspective on the relationship between law and economics.
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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