Transnational Law and Economic Sociology

2021 ◽  
pp. 66-88
Author(s):  
Sabine Frerichs
Keyword(s):  
Global Economy ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Law And Economics ◽  
New Institutional Economics ◽  
Market Society ◽  
Transnational Law ◽  
The Law ◽  
Economic Perspectives ◽  
Different Levels

Transnational law interacts in various ways with the law of the global economy. Students and experts of transnational law will therefore most likely come across economic arguments. Economic sociology questions mainstream economic perspectives, including their adaptations to the law, and also differs from new institutional economics. By integrating different levels of analysis, economic sociology, and related scholarship in critical political economy, seeks to provide a more comprehensive account of the interrelations of law, economy, and society—and of the rationalities at play. This chapter outlines an economic sociology of law which exposes the constructed nature of the law of the global economy and elucidates the elective affinity between law and economics, which also affects our understanding of transnational legal ordering. To reconstruct this tendency, the chapter develops the concept of the law of market society, which has a critical potential with regard to more conventional perspectives on transnational economic law.

scholarly journals A Christian Response to the Conflicting Relationship Between Slave and Master in A Christian Household

Scrinium ◽  
2018 ◽  
Vol 14 (1) ◽  
pp. 25-36
Author(s):  
Alex Hon Ho Ip
Keyword(s):  
Institutional Economics ◽  
Core Values ◽  
New Institutional Economics ◽  
Practical Concern ◽  
Theological Perspective ◽  
The Relationship ◽  
Different Levels

Abstract This paper seeks to investigate Paul’s response – based on his theological thoughts on love – on the conflicting relationship between Christian master and slave. With the aid of New Institutional Economics (NIE), two major characteristics of the relationship between a master and slave will be explained, namely objectifying and manipulating the relationship. Then, this paper will try to read Paul’s response to the conflicting relationship in the letter to Philemon – how he used different rhetoric to persuade Philemon to change his relationship with his slave in different levels, namely, theological perspective, core values and practical concern.

Ronald Coase's impact on economics

2014 ◽  
Vol 11 (2) ◽  
pp. 227-244 ◽  
Author(s):  
MARY M. SHIRLEY ◽  
NING WANG ◽  
CLAUDE MÉNARD
Keyword(s):  
Institutional Economics ◽  
Social Cost ◽  
Law And Economics ◽  
New Institutional Economics ◽  
Careful Study ◽  
Empirical Reality ◽  
Role Of Government ◽  
Institutional Issues ◽  
Rapid Transformation

AbstractRonald Coase had a profound impact on scholarship worldwide, and not for his ideas alone. Coase's ideas about transaction costs, the nature of the firm, the role of government, and the problem of social cost have been hugely influential. Throughout his long life, he also worked to change the conduct of economics, urging economists to ground their conclusions in careful study of empirical reality rather than theories that work only on the blackboard. Less well known, perhaps, is his work to nurture and shape the emerging fields of law and economics and new institutional economics, or his support to young scholars studying institutional issues around the world. In his final years, he was preoccupied by the rapid transformation of China and the institutional structure of production. This article summarizes Coase's significant intellectual contributions to economics, pointing out along the way some of the traits that made him such a powerful thinker and exceptionally influential scholar.

scholarly journals What Factors Constitute Structures of Clustering Creative Industries? Incorporating New Institutional Economics and New Economic Sociology into A Conceptual Framework

2012 ◽  
Vol 14 (3) ◽  
pp. 213
Author(s):  
Poppy Ismalina
Keyword(s):  
Conceptual Framework ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Local Development ◽  
Industrial Clusters ◽  
New Institutional Economics ◽  
Creative Industries ◽  
Institutional Practices ◽  
Economic Context ◽  
Theoretical Perspectives

Creative industries tend to cluster in specific places and the reasons for this phenomenon can be a multiplicity of elements linked mainly to culture, creativity, innovation and local development. In the international literature, it is pretty well recognized that creativity is frequently characterized by the agglomeration of firms so that creative industries are not homogeneously distributed across the territory but they are concentrated in the space. Three theories are becoming the dominant theoretical perspectives in agglomeration economies theory and they are increasingly being applied in industrial clusters analysis to study the effect of clustering industries. The theories are Marshall’s theoretical principles of localization economies, Schmitz’s collective efficiency and Porter’s five-diamond approach. However, those have adequately theorized neither the institutionalization process through which change takes place nor the socio-economic context of the institutional formations of clustering creative industries. This text begins by reviewing three main theories to more fully articulate institutionalization processes of an economic institution. Specifically, this paper incorporates new institutional economics (NIE) and new economic sociology (NES) to explain the processes associated with creating institutional practices within clustering creative industries. Both streams of institutional theory constitute that economic organizations are socially constructed. Next, this text proposes the framework that depicts the socio-economic context better and more directly addresses the dynamics of enacting, embedding and changing organizational features and processes within clustering creative industries. Some pertinent definitions are offered to be used in a conceptual framework of research about how economic institutions like clustering creative industries constitute their structures.    

scholarly journals Let’s Break the Law: Transaction Costs and Advance Rent Deposits in Ghana’s Housing Market

2018 ◽  
Vol 7 (2) ◽  
pp. 333-354
Author(s):  
Kofi Oteng Kufuor
Keyword(s):  
Transaction Costs ◽  
Housing Market ◽  
Institutional Economics ◽  
Financial Burden ◽  
New Institutional Economics ◽  
The Law

A feature of the Ghana private rental accommodation market is that landlords usually demand advance rent of, in some instances, up to 5 years before signing a tenancy agreement. This is in violation of the 1963 Rent Act and recent initiatives are in the direction of curing this problem in the interest of protecting prospective tenants. However while advance rent is a financial burden this is offset by transaction costs in the housing market. Hence, in this paper and influenced by New Institutional Economics, I argue that it is possible for tenants and landlords to continue to bargain outside the shadow of the law to secure mutually beneficial tenancy agreements.

A proposito di un recente libro di economia del diritto*

1983 ◽  
Vol 1 (1) ◽  
pp. 53-60
Author(s):  
Giuseppe Dallera
Keyword(s):  
Public Choice ◽  
Institutional Economics ◽  
Law And Economics ◽  
Common Law ◽  
Short Review ◽  
Welfare Economics ◽  
New Institutional Economics ◽  
Economic Approach ◽  
Future Prospects ◽  
Academic System

Abstract This is a survey of the literature on law and economics, taking occasion from the recent publication of a book of readings (The Economic Approach to Law, ed. by P. Burrows and C.G. Veljanovski, Butterworths, London, 1981, pp. 343).A short review is offered of the main streams of thought in this field (welfare economics, common law, institutional economics, new institutional economics, public choice, and so on).Finally, an analysis is also included about the future prospects of this approach, both from a theoretical viewpoint and from the viewpoint of its fitting into the Italian academic system.

scholarly journals Comparative institutional law and economics: reclaiming economics for socio-legal research

2019 ◽  
Vol 26 (3) ◽  
pp. 372-393
Author(s):  
Lyubomira Gramcheva
Keyword(s):  
Institutional Economics ◽  
Law And Economics ◽  
Comparative Law ◽  
Chicago School ◽  
New Institutional Economics ◽  
Neoclassical Economics ◽  
Legal Research ◽  
Legal Scholarship

Law and economics is a controversial method of legal research, increasingly popular among some legal scholars but disliked by many others. The author discusses some of the objections raised by lawyers (as well as some economists) and argues that most of these are caused by the employment of the wrong economics on the respective side of the conjoined field. She contrasts neoclassical economics, made extremely popular by the Chicago school and Professor Richard Posner in particular, with New Institutional Economics and argues that the latter can overcome the difficulties presented by the former. While neoclassical economics seems to introduce additional problems to legal scholarship, New Institutional Economics neatly matches law’s own methodological tenets. However, the analysis will remain incomplete unless a third element is added to the mix: comparative law. Thus, the author calls for the development of Comparative Institutional Law and Economics, which provides an improved explanatory methodology.

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