Financial Markets and the Production of Law

Jörg Guido Hülsmann ()
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Jörg Guido Hülsmann: University of Angers

A chapter in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume I, 2023, pp 191-207 from Springer

Abstract: Abstract Following the Italian jurist and legal philosopher Bruno Leoni, the economics of financial markets can be interpreted as a special case of the economics of law. Government interventions in money and finance tend to entail the same type of consequences as the production of statutory law. Just as statutory law tends to create short-term certainty at the expense of an ultimate destruction of the law, fiat-money-based finance tends to create short-term funding possibilities at the expense of an ultimate destruction of savings and productive investments.

Keywords: Fiat money; Financial markets; Statutory law; Legislation; Law and economics; Fiat finance (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-17414-8_17

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DOI: 10.1007/978-3-031-17414-8_17

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