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

Annotation. 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 Contents 8 Preface 10 1 Introduction 12 2 A general framework 34 3 Law and market economy: further clarification 68 4 Wealth as a process of discovery: wealth, discovery, and imaginative choice 89 5 Social organization and the discovery process 117 6 Implications of law and market economy 147 7 Conclusion 177 Index 187 A 187 B 187 C 187 D 187 E 188 F 188 G 188 H 188 I 188 J 188 K 188 L 188 M 188 N 189 O 189 P 189 R 189 S 189 T 190 U 190 V 190 W 190 This synthesis of law, philosophy and market theory provides a new jurisprudence of exchange. It presents a fundamental critique of the traditional economic analysis of law and an alternative approach through semiotic analysis, examining the market exchange process through the broader perspective of creativity and human relationships