Contract law and economics: cycles and equilibrium in the cannon of north american legal thought

Pablo Márquez-Escobar ()

Revista de la Maestría de Derecho Económico, 2010

Abstract: Abstract The dynamics of law and economics in the cannon of American legal thought was initially characterized by a denial of the independence of contract law, tailored by judicial decisions and the realist revolution. This paper shows that this denial begets the rebirth of contract law based on policy doctrines that asked for the turn to economics, by giving a new linguistic framework and foundation to contracts. After such process, an inconspicuous doctrine of contract law was built by the Critical Legal Studies (CLS) doctrine. Its effect was not constructive but deconstructive, but purposeless and proposeless. After the failure of CLS, law and economics consolidated as the actual base of US contract law.

Keywords: Contract; Law and Economics; Law-Theory. (search for similar items in EconPapers)
JEL-codes: K K1 K12 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:col:000441:009245

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