Law And Market Economy

Law, market theory and semiotics together provide a challenging new perspective on economic analysis of law.

This volume concerns several aspects of China's changing market based economy. These include commercial contract enforcement, corporate structures, competition law and other issues related to China's membership in the WTO. In the past two decades, the rapid integration of China's economy into the global marketplace has created obligations and expectations of non-discrimination and regulatory transparency in domestic markets. The Chinese government has responded by demanding better governance within major companies, market sectors and public administration generally. However, as the articles in this volume show, it has struggled to find a corporate structure capable of absorbing external equity investment and participation but still amenable to direct and indirect state guidance. It has also moved cautiously in creating legal controls over unfair competition. Moreover, the protection of state owned enterprises, which serve as vehicles for domestic economic, social and political policy, has been a recurring issue in China's WTO trade disputes.

Investigating the extent to which the European Union can be defined as a "highly competitive social market economy", this edited collection illustrates and tests the constitutional reverberations of Art. 3(3) of the Treaty on the European Union, and discusses its actual and potential transformative effect. In the aftermath of Brexit, and in the 60th anniversary of the Treaty of Rome, the book is particularly timely and topical, offering new and deeper insights on the complex and constantly evolving social dimension of the EU, ultimately reflecting on how the objective of (re)constituting the EU as a "highly competitive social market economy" might best be achieved.

This publication addresses the legal changes significant to the formative years of a Chinese market economy. Conference papers written by academics from China and Hong Kong examine all aspects of the transition, fr om an analysis of the market's current condition to the effectiveness of consumer rights and the issues raised by corruption. Combining a balanced overview with informed critical insight, the book provides a thorough understanding of all legal reforms and the consequences for China's future economic condition

Focusing on the information economy, free trade exploitation, and confronting terrorist violence, Mark Findlay critiques law's regulatory commodification. Conventional legal regulatory modes such as theft and intellectual property are being challenged by waves of property access and use, which demand the rethinking of property 'rights' and their relationships with the law.Law's Regulatory Relevance? theorises how the law should reposition itself in order to help rather than hinder new pathways of market power, by confronting the dominant neo-liberal economic model that values property through scarcity. With in-depth analysis of empirical case studies, the author explores how law is returning to its communal utility in strengthening social ties, which will in turn restore property as social relations rather than market commodities. In a world of contested narratives about property valuing, law needs to ground its inherent regulatory relevance in the ordering of social change.This book is an essential read for students of law and regulation wanting to explore the contemporary dissent against neo-liberal market economies and the issues of communitarian governance and social resistance. It will also appeal to policy makers interested in law's failing regulatory capacity, particularly through criminalising attacks on conventional property rights, by offering insights into why law's regulatory relevance is at a cross-roads.

This monograph, which was also designed as a short reference book for specialized undergraduate and graduate courses on EU law, intends to shed light on, and legally frame, the evolution of the doctrine of services of general economic interest (SGEIs). The book emphasizes the pivotal role played by SGEIs in striking a fair balance between market and social objectives. To this end, the book claims, first of all, that SGEIs have a dual nature inasmuch as they act as a limitation to/derogation from the free market and, simultaneously, as a value and positive obligation addressed at national authorities, undertakings, and EU institutions. The EU notions of access to public services and universal service are the clearest signal of such phenomenon. Secondly, the book claims that the transfer of competences from the Union to the Member States and the reaffirmation of Member States’ sovereignty in crucial sectors of the economy are not the only solutions to foster social rights. In fact, this narrative is apt to undermine the foundations, spirit, and purpose of the process of European integration, especially at a time like the present, when new forms of populism and anti-Europeanism are on the rise, and when a European response is imperative to counter the spread of the coronavirus in European countries. The book concludes that SGEIs’ regulation is an area of law where the EU institutions have generally successfully put into action and consolidated the social market economy principles on which the EU was founded. This is even further proof that the EU is not merely the reflection of interests linked to market completion, but also and foremost a ‘Community based on the rule of law’. The book will be a valuable resource for academics and researchers in EU Law, European Public Law and EU competition law.

Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.

​FairEconomy is a concept for a free and fair market economy. In response to the financial and economic crises of the past years, the authors develop fundamental ideas of how a market economy works, what rules markets need and who safeguards fairness and equal opportunity in such an economy. The book sets out the design of a sustainable market order: Going back to the very roots of doing business it offers a fascinating insight into the cultural and anthropological premises of the market economy. Fairness and free competition can be identified as key elements of successful markets, sometimes neglected in politics and business. Legal rules need to ensure that fairness and economic freedom work. The same holds true for the relationship of risk and liability that has been overlooked in the banking sector. The ideas of a FairEconomy, sketched in this book, are fit to become a reality: The authors point to institutions and mechanisms that could integrate the concept into global law. They place their trust less upon ever-larger institutions and more on private entitlement and enforcement at the global, regional, and local levels. ​