Public law and economics: a necessary encounter

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Chapter 1 in An Economic Analysis of Public Law, 2021, pp 1-20 from Edward Elgar Publishing

Abstract: Traditional public law and economic theory were made to meet, despite their methodological differences (normative versus positive approach). They followed parallel paths for 250 years but were kept apart, especially in Europe. We explore the reasons for this distance and refute the erroneous idea that economics are only suitable for exploring a US, state-phobic, common law version of the law. Economic analysis is indispensable for an “Agora-centric†(market-oriented) approach of public law and for enhancing the efficiency of the Demos (the State), in times of Globalization, Europeanization and competition among regulators. All the more so, since recent crises (financial and immigration crises, Brexit, coronavirus pandemic) relate to institutional failures partly attributed to traditional public law. The latter was designed to protect the individuals mainly through a fragmented application of the legality principle rather than promoting the systemic efficiency of public institutions.

Keywords: Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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