Draft:Legal institutionalism
Submission declined on 1 January 2024 by Cerebellum (talk).
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| Submission declined on 18 December 2023 by Lewcm (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by Lewcm 5 months ago.
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Comment: It's not clear to me that this is a coherent concept that really differs from Institutionalist political economy and Institutional economics. I understand that source #1 is trying to make that argument, but do the other sources? Some of the sources, such as #6 and #10, do not even contain the term legal institutionalism. And there are other sources that seem to use the term in a different way, as part of legal theory rather than economics - [1], [2]. Cerebellum (talk) 13:01, 1 January 2024 (UTC)
Legal institutionalism is an approach to legal, economic, and political thought that focuses on the role of law in markets.[1] It is against the idea that markets exist in opposition to the state, legal institutionalism emphasizes that markets are generally "the product of changeable, politically determined legal rules that are created, applied, and enforced by states."[2]
History[edit]
Legal institutionalism has its roots in the early twentieth century intellectual traditions of institutional economics and legal realism. Unlike the thinkers associated with new institutional economics, legal institutionalists often reject neoclassical economics and its reliance on rational choice theory.[2]
Prominent contemporary legal institutionalists include Geoffrey Hodson[3] and Katharina Pistor.[4] Legal institutionalist ideas can be found in the writings of many legal scholars associated with the Critical Legal Studies[5] movement and the Law and Political Economy Project.[6] Roberto Mangabeira Unger has often argued in favor of the legal institutionalist idea that market economies can take many different institutional forms.[7] Public intellectuals such as Dean Baker,[8] Robert Reich,[9] and Brink Lindsey[10] have also published works in the legal institutionalist tradition.[2]
Legal institutionalism differs from institutionalist political economy by giving "particular emphasis to the role of the state in the legal system, and to the constitutive role of law in social and economic life."[1]
References[edit]
- ^ a b Deakin, Simon; Gindis, David; Hodgson, Geoffrey M.; Huang, Kainan; Pistor, Katharina (2015). "Legal Institutionalism: Capitalism and the Constitutive Role of Law". Journal of Comparative Economics. 45 (1): 188. doi:10.1016/j.jce.2016.04.005.
- ^ a b c Brazeal, Gregory (2023). "Markets as Legal Constructions". University of Cincinnati Law Review. 91 (1): 595–679.
- ^ Hodgson, Geoffrey M. (2015). Conceptualizing Capitalism: Institutions, Evolution, Future. University of Chicago Press.
- ^ Pistor, Katharina (2020). The Code of Capital: How the Law Creates Wealth and Inequality. Princeton University Press. ISBN 9780691208602.
- ^ See, for example, Singer, Joseph William (2000). Entitlement: The Paradoxes of Property. doi:10.12987/yale/9780300080193.001.0001. ISBN 978-0-300-08019-3.
- ^ Britton-Purdy, Jedediah; Kapczynski, Amy; Grewal, David Singh (2017). "Law and Political Economy: Toward a Manifesto". LPE Project.
- ^ Unger, Roberto Mangabeira (2007). Free Trade Reimagined: The World Division of Labor and the Method of Economics. Princeton University Press. ISBN 9780691145884.
- ^ Baker, Dean (2011). The End of Loser Liberalism: Making Markets Progressive.
- ^ Reich, Robert (2015). Saving Capitalism: For the Many, Not the Few.
- ^ Lindsey, Brink (2020). "The Dead End of Small Government". Niskanen Center.
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