Description

Book Synopsis

âœInstitutions matterâ, is a common refrain amongst all economists â including many who have proposed progressive alternatives to free market fundamentalism. However, this sentiment does not go far enough.

This book draws principally on the Original Institutional Economics and American Legal Realist traditions to propose a theory of legal institutionalism or institutional political economy. By arguing that society is a political community it challenges the private law versus public law or state versus markets distinction. Focusing on property, money and credit, constitutional law, and corporations the book argues that laissez faire has never existed and that âœstate intervention versus de-regulationâ or âœmarket failures versus free marketsâ are false dichotomies. The book proposes the need to engage with legal-economic theory and history to understand what institutions are, what economic regulation means, lawâs intrinsic connection to the economy, and the distribution of powe

Legal and Political Foundations of Capitalism

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    A Paperback by Jamee K. Moudud

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      Publisher: Taylor & Francis
      Publication Date: 4/15/2025
      ISBN13: 9781032346601, 978-1032346601
      ISBN10: 1032346604
      Also in:
      Political economy

      Description

      Book Synopsis

      âœInstitutions matterâ, is a common refrain amongst all economists â including many who have proposed progressive alternatives to free market fundamentalism. However, this sentiment does not go far enough.

      This book draws principally on the Original Institutional Economics and American Legal Realist traditions to propose a theory of legal institutionalism or institutional political economy. By arguing that society is a political community it challenges the private law versus public law or state versus markets distinction. Focusing on property, money and credit, constitutional law, and corporations the book argues that laissez faire has never existed and that âœstate intervention versus de-regulationâ or âœmarket failures versus free marketsâ are false dichotomies. The book proposes the need to engage with legal-economic theory and history to understand what institutions are, what economic regulation means, lawâs intrinsic connection to the economy, and the distribution of powe

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