Final published version, 211 KB, PDF document
Available under license: CC BY: Creative Commons Attribution 4.0 International License
Final published version
Licence: CC BY: Creative Commons Attribution 4.0 International License
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - On the Sociology of Law in Economic Relations
AU - Miola, Iage
AU - Picciotto, Sol
PY - 2021/3/23
Y1 - 2021/3/23
N2 - A focus on law’s role in economic activities was central to many of the classical sociologists, and it remains a key theme in the sociology of law, although no longer central. The view of capitalism as a market economy is reflected in formalist perspectives on economics, law and even sociology, and limits these understandings. Economic sociologists and institutional economists have examined the extensive institutionalisation of economic activity due to the shift to corporate capitalism since the last part of the 19th century, and have focused on law’s role in these processes. The neo-liberal phase of capitalism since the 1970s brought a renewed emphasis on property rights and market-based management, but accompanied by an enormous growth of new forms of regulation, often of a hybrid public-private character, leading to a new view of law as reflective or responsive, very different from traditional formalist perspectives. We argue that law’s role in the economy can be better understood by examining the social processes of lawyering, mediating between the realms of political and economic power, through practices of legal interpretation that both reflect and shape economic activity.
AB - A focus on law’s role in economic activities was central to many of the classical sociologists, and it remains a key theme in the sociology of law, although no longer central. The view of capitalism as a market economy is reflected in formalist perspectives on economics, law and even sociology, and limits these understandings. Economic sociologists and institutional economists have examined the extensive institutionalisation of economic activity due to the shift to corporate capitalism since the last part of the 19th century, and have focused on law’s role in these processes. The neo-liberal phase of capitalism since the 1970s brought a renewed emphasis on property rights and market-based management, but accompanied by an enormous growth of new forms of regulation, often of a hybrid public-private character, leading to a new view of law as reflective or responsive, very different from traditional formalist perspectives. We argue that law’s role in the economy can be better understood by examining the social processes of lawyering, mediating between the realms of political and economic power, through practices of legal interpretation that both reflect and shape economic activity.
KW - Corporation
KW - economic law
KW - law and economics
KW - lawyers
KW - property rights
KW - regulation
U2 - 10.1177/09646639211002881
DO - 10.1177/09646639211002881
M3 - Journal article
JO - Social and Legal Studies
JF - Social and Legal Studies
SN - 0964-6639
ER -