LAW AND ECONOMICS: PERSPECTIVE DIRECTION OF SCIENTIFIC RESEARCH (reflections on the contribution of Guido Calabrese to research in the field of “Law and Economics”)


, professor, Kharkiv, Pushinska, 77
ORCID ID: 0000-0001-9895-730X

In heading

Economic theory of law;

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Issues number

2017 - № 3 (30)



Type of articles

Scientific article

Code UDK


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Problem setting. The most effective direction of modern research is the combination of methodology and categorical apparatus of legal and economic science.
Recent research and publication analysis. The relationship between law and economics is investigated in two aspects in modern conditions. The first is to consider the legal system in the context of economic theory and to prove that the economy can make the law more effective. The second is the ability to improve the methodology of economic theory for the researching of social development. This approach is supported and developed by a well-known American lawyer, whose work deserves thoughtful and creative analysis.
Paper objective. The purpose of the article is to familiarize specialists working in the field of economic and legal analysis, with the work of the most famous American scientist Guido Calabrese, “The Future of Law And Economics. Essays In Reform And Recollection” and express thoughts about his interesting and unusual ideas for economists.
Paper main body. The main goal of G. Calabrese is to attract the attention of scientists and practitioners to the research of specialists in the field of “Law and Economics”. The author tries to explain the content of the book and why lawyers must play a special role in law and economics.
“Economic analysis of law” according to G. Calabrese uses an economic theory to analyze law in order to approve the legal reality, to question it and try to reform it. Economic theory in this case is able to explain why this legal law exists, and why some rules of law are obsolete, irrational.
G. Calabrese explains the contemporary significance of the connection between economics and law by the fact that many lawyers have expressed dissatisfaction with the constraints imposed on them by the dominant views on the law, which was traditionally considered an independent discipline.
G. Calabrese comes to an important conclusion as a result of the analysis of meritorious goods – the distribution of such benefits is becoming more equitable on the basis of modified markets and modified power structures.
It is impossible to understand the relationship of society to meritorious goods without understanding the role of modified methods: market, and command. This approach allows understanding what minimum number of meritorious goods can be removed from the ordinary market and distributed, and which part to leave in the domination of the market. Such a division is carried out through a legal structure, the existence of which reflects the struggle of costs and benefits.
Conclusion of the research. There are many values in research in the field of “Law and Economics”. G. Calabrese encourages scholars to put forward fundamental value judgments, and then engage in research on their implications by joint efforts of lawyers and economists.
Short Abstract for an article
Abstract. The contribution of the well-known American scientist Guido Calabrese to the research in the field of “Law and Economy” and perspective directions of its development are analyzed. The necessity of combining methodology and categorical apparatus of legal and economic science with the research of modern tendencies of social development is substantiated. The most promising areas of joint economic and legal research of the real world are determined.


Law and economics, meritorious goods, modified markets, modified power structures.


External reviewer

Article in PDF

3 56-63


1. Frydmen, D. (2004). Pravo i ekonomicheskaya teoriya. Ekonomicheskaya teoriya. / per. s angl. Bozerup E., Kayndlberger Ch., Oslon M. i dr.; Dzh. Ituel (ED) et. ol. M. INFRA-M.
2. Kalabrezy, Hvydo (2016). Buduschee prava i ekonomiki. Ocherki o reforme i razmyishleniya. M.: Izd-vo Instituta Gaydara.

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