The Fall And Rise Of Freedom Of Contract

DIVOriginal essays by prominent legal scholars on the recent intellectual revival of freedom of contract and the value of free bargaining; the essays will be gleaned from a series of conferences organized around areas where bargaining rights might be expande/div

The impact of freedom of contract in the 19th century extended far beyond the legal arena as an economic slogan and an ethical attitude. Atiyah traces the development and subsequent decline of the freedom of contract, depicting its effects on the law's development and the foundation of contractual obligations, as well as its broader implications for 19th century English life.

Our legal system is committed to the idea that private markets and the law of contracts that supports them are the primary institutions for allocating goods and services in a modern economy. Yet the market paradigm, this book argues, leaves substantial room for challenge.

The relationship of law to economic freedom has been a vital element in the history of all modern democratic societies. "Freedom of contract" is both a technical term in law, referring to private agreements and promises, and a metaphor often deployed to describe economic liberty. This volume of new essays by eminent legal historians offers fresh perspectives on freedom of contract in both senses of the term, and considers how economic freedom relates to such classic political freedoms as free speech and other Anglo-American constitutional norms. The principal focus of the essays is on broad issues of policy and law, rather than on narrow considerations of legal doctrine. All the contributors reject stereotypes that pervade the existing literature about the allegedly unalloyed individualism of the common law, and show how active state interventions of various kinds have shaped contract law in relation to social change throughout our legal history. Equally, however, they reject shibboleths regarding "bringing the state back in," and take a hard look at the claims of statist ideology regarding the norms and rules that have established the legal boundaries of liberty in the modern industrial and post-industrial eras. The topics covered are Blackstone's claim that property was the "despotic dominion of the private owner" (A. W. B. Simpson), labor and contract (John V. Orth), the influence of philosophical trends on legal innovations (James Gordley), contract and individualism (David Lieberman), the tradition of public rights (Harry N. Scheiber), the formal concept of "liberty of contract" in American law (Charles McCurdy), the interwoven history of labor law and contract law (Arthur McEvoy), public policy in relation to natural resources (Donald Pisani), and globalization of freedom of contract (Martin Shapiro).