Archives for posts with tag: Law

[T]he mischief takes a wide range. Those who have been accommodated with loans must pay, whatever their readiness or ability to do so. Further advances cannot be obtained. Other banks must call in their loans and refuse to extend credit in order to fortify themselves against the uneasiness and even terror of their own depositors. Confidence is destroyed. Enterprises are stopped. Business is brought to a standstill. Securities are enforced. Property is sacrificed, and disaster spreads from locality to locality. All these incidents of the banking business are matters of common knowledge and experience.

Court of Kansas. 1911. Schaake v. Dolley, 118 p. 80, 83 (Kansas denying a charter to a new bank because “the economy could not support another bank”).

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« Law & Economics »?

A new Think tank I’ve been collaborating with, Droit & Croissance (or as they call it in English, Rules for Growth), asked me and Pierre Bentata to define just what is Law & Economics. We gave a pretty standard textbook definition (aka neo-classical), strongly inspired by Paul H. Rubin’s Concise Encyclopedia of Economics entry on law & economics, but it sticks to what it is that they do. It would have been out of place to venture into the emergence and origin of Law and more advanced topics, but we still managed to cite Hayek in there.

Le « Law & Economics », ou analyse économique du droit, est plus que la rencontre du droit et de l’économie, puisqu’il s’agit d’une forme d’analyse juridique. Il ne s’agit pas non plus du « Droit économique », mais bien d’une analyse juridique utilisant les outils de l’économiste. Elle cherche à expliciter un ordre sous-jacent au droit, une logique du droit en dehors du droit lui-même, qui nous permet de le comprendre et d’étendre ses concepts de façon cohérente à des situations jusque-là inédites.

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