Open AccessEconomics and law: interrelation in modern world
Author(s) -
Sergey Sinitsyn,
Синицын Сергей Андреевич
Publication year - 2019
Publication title -
vestnik rossijskoj akademii nauk
Language(s) - English
Resource type - Journals
ISSN - 0869-5873
DOI - 10.31857/s0869-5873892139-146
Subject(s) - panacea (medicine) , empirical legal studies , legislature , economic law , political science , private law , public law , comparative law , law , legal history , law and economics , economics , medicine , alternative medicine , pathology
The concept of the interdependence of law and economics is primarily expressed in modern legal studies by arguments for the leading role of economic analysis of law as a panacea for all possible defects in legal regulation. However, contemporary challenges dictate the urgent need to explore and critically evaluate the significance, completeness, and effectiveness of economic analyses of law and their impact on the legal system, as well as study the risks associated with the absolutization of this approach. This article demonstrates that the economic analysis of law is not based on the methods and algorithms of the legal and economic sciences, but rather represents an ideological tool of influence on legal consciousness and regulation that serves lobbying interests for specific legislative initiatives. The author analyzes the goals of the application of this methodology and its effects on the regulation of private and public relations and illuminates their differences. Based on an examination of regulatory and doctrinal Russian and foreign sources, the author demonstrates the limited range and purpose of economic analyses of the law as a methodological tool and suggests possible alternative approaches for revealing the relationship between law and economics, which are determined in consideration of modern developments in the economic and legal sciences.