On the Constitutive Role of Law for Economics: An Elaboration on the Contribution by the German Socio-Legal School
Journal of Economic Issues, 2021, vol. 55, issue 1, 125-141
This article draws attention to the forgotten German socio-legal school of economics. According to this school, the actual starting point of economic theory is not the individual as such, but the social environment with its legal stipulations that the individual is necessarily a part of. Based on a corresponding retrospect, the article makes visible the tacit legal preconditions of economic theory. Some of the fundamental concepts of economic models—exchange, value, and equilibrium—require the existence of a legal system that defines legal persons and their rights and duties towards each other.
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:55:y:2021:i:1:p:125-141
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in Journal of Economic Issues from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().