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Vol 21 No 9 Sept/Oct 2016

Book of the Month

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Law and Market Economy: Reinterpreting the Values of Law and Economics

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Robin Paul MalloySyracuse University, New York

ISBN13: 9780521787314
ISBN: 0521787319
Published: October 2000
Publisher: Cambridge University Press
Country of Publication: UK
Format: Paperback reissue
Price: £34.99
Hardback edition price on application, ISBN13 9780521782142

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This integrated study of law, economics and Peircian semiotics re-examines the relationship between law and market theory, and introduces the idea of law and market economy. Overcoming the traditional dichotomy between efficiency and justice, Malloy focuses on the relationship between creativity, entrepreneurism, and sustainable wealth formation. he shows how creativity and sustainable wealth formation have more to do with an ethic of social responsibility than with a concern for economic efficiency. In presenting his case, Malloy uses numerous examples as he reinterprets classic problems related to rational choice, the Coase Theorem, public choice, efficient breach, social contract theory, and wealth maximization, among others.

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Law and Economics
1. Introduction
2. A general framework
A basic introduction to semiotics
A brief overview of the general argument
3. Law and market economy: further clarification
Market as community
Market as a process of semiotic signification
4. Wealth as a process of discovery (wealth, discovery, and imaginative choice)
Coase's theorem
Public choice
5. Social organization and the discovery process
The relationship between social organization and proactive wealth formation
An ethic of social responsibility for law and market economy
Outlining an ethic of social responsibility (humility, diversity, reciprocity)
The ethic of social responsibility and wealth: some supportive evidence
6. Implications of law and market economy
Efficiency does not maximize wealth
An extensive distribution promotes wealth
Rhetorical strategies have consequence
7. Conclusions.