Law and Market Economy

This integrated study of lawȩconomics and Peircian semiotics re-examines the relationship between law and economicso̧vercoming the dichotomy between efficiency and justicea̧nd introduces a new conception of law and market economy. The author challenges several basic assumptions of the economic analysis of lawi̧ncluding rational choice theoriesţo develop an expanded jurisprudence of social exchange. Examining the meaning and structure of the market exchange process through the broader perspective of human relationships and experienceḩe contrasts the need for creativity with traditional economic concerns for efficiency: instead he shows how creativity requires an ethic of social responsibilityģrounded in conceptions of humilityḑiversity and reciprocityţo contribute to the process of sustainable wealth formation. The book examines legal analysis and argument within an integrated market context. Numerous examplesi̧ncluding re-interpretations of classic problemsḑemonstrate the way in which law and legal institutions continually shape and reshape patterns of social interaction and market exchange.