Law and Market Economy: Reinterpreting the Values of Law and Economics - Softcover

Malloy, Robin Paul

Softcover

ISBN 10: 0521787319 ISBN 13: 9780521787314

Publisher: Cambridge University Press, 2000

Synopsis

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 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.

About this title

Book Description

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.

Review

"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

"In bringing the language and concerns of ethics, moral theory, and social responsibility back into the discipline of market theory and law, this book is timely and significant, and should be read by anyone who cares about more just and inclusive alternatives to present forms of social organization." Sharon Hom, City University of New York

"Providing the reader with a rich menu of humanistic values, economic analysis, and interpretation theory, this work will enliven debate and open new avenues of inquiry in an academic field on the verge of becoming arid by its current confining focus." Denis Brion, Washington and Lee University

Edition details

• Publisher: Cambridge University Press
• Publication date: 2000
• Language: English
• ISBN 10: 0521787319
• ISBN 13: 9780521787314
• Binding: Paperback
• Edition number: 1
• Number of pages: 190