Legal Institutionalism: Capitalism and the Constitutive Role of Law

@article{Deakin2017LegalIC,
  title={Legal Institutionalism: Capitalism and the Constitutive Role of Law},
  author={S. Deakin and David Gindis and G. Hodgson and K. Huang and Katharina Pistor},
  journal={Journal of Comparative Economics},
  year={2017},
  volume={45},
  pages={188-200}
}
Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates for inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the state are criticized here, because they typically assume relatively small numbers of agents and underplay the complexity and uncertainty in developed capitalist systems. In developed capitalist economies… Expand
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