RULE OF LAW IN THE CONTEXT OF ECONOMIC THEORY

Author

, professor, Kharkiv, Pushinska, 77

In heading

Economic analysis of law;

Signed print

11.09.2015

Issues number

2015 - № 3 (22)

Page

77-88

Type of articles

Scientific article

Code UDK

340.33011

ISSN print

2411-5584

Abstract

Problem setting. The rule of law — a fundamental and universal principle of building a democratic market economy. This principle is extremely important to establish in a transformational economy.
Recent research and publications analysis. The rule of law, first of all, is the object of study of legal science that analyzes the content, elements, and principles of implementation in the constitutional, civil, administrative field.
Paper objective. An aim of the article is to determine the economic logic of the rule of law, create its basic conditions that directly influence on the formation of the legal economy. In the context of solving this problem, identify actors who are interested in development of normal legal order and are capable to provide society movement in this direction.
Paper main body. The objective foundations of the rule of law laid down in the codivided labor, which, on the one hand, makes a person free to choose the kind of economic activities and opportunities to use their human resources, and on the other — equalize people in their dependence on one another. Normal economic activity reconstitutes measure of freedom (rights) and dependence (obligations and responsibilities). This algorithm is achieved through the law. The historical development of the role of law changes in the economy. Natural economy is built on the use of natural resources and regulate by natural law, market economy — on the functioning of the productive and financial capital based on private law, the legal economy appears on the basis of the social, human, intellectual capital and assumes the rule of law as a result of the free will of the subjects. Economic theory identifies the main actors of the demand for the rule of law. The demand for the law is based on the wants and the value of the transaction costs that are related withthe necessary resources to make a decision.
Conclusions of the research. The rule of law is an important factor for sustainable and dynamic development of the economy, because it allows to adapt to modern changes without destructive social upheaval and avoid the risk of reversion of authoritarian regimes. In the absence of the rule of law, most of the legal regulations or cannot settle down, or turned into its opposite, or deform the nomocracy, or not at all may occur.

Keywords

Rule of law, the legal economy, the transaction costs, the actors of the demand for law, co-division labor.

Reviewer

Shevchenko L. S., Doctor of Economic Sciences, Professor, Yaroslav Mudryi National Law University, Kharkiv, Ukraine.

External reviewer

Timoshenkov I. V ., Doctor of Sciences (Economics), Associate Professor, Professor of the Economic Theory Department, V. N. Karazin Kharkiv National University.

Article in PDF

№ 3 77-88

Bibliography

1. Kozyubra M. I. (2012). Verhovenstvo prava i Ukraina. Pravo Ukraina.1-2.30-63.
2. Тamanaga B . (2007) Verhovenstvo prava: іstoriya, politika, teoriya Kiev. KievoMogilyanska akademiya.
3. Gayvoronskiy V . Konstitutsionnyiy printsip verhovenstva prava. Retrieved from: http://femidacenter.info/obshie-voprosi-prava/konstitucionnyj-princip-verhovenstvaprava.html.
4. Andruschuk S. Printsip verhovenstva prava: viznachennya, spivvidnoshennya iz sumizhnimi ponyattyami, osoblivosti zakonodavchogo zakriplennya i realizatsiyi. Retrieved from: http://www.justinian.com.ua/article.php?id=2008.
5. Luchenko D. V . (2014)Verhovenstvo prava u praktitsi strasburzkogo sudu v aspekti problem sudovogo oskarzhennya rishen, diy abo bezdiyalnosti sub’ektiv vladnih povnovazhen. Kharkiv: Pravo/
6. Dopovіd Venetsianskoyi komisiyi «Pro verhovenstvo prava». Retrieved from: http://www.venice.coe.int/webforms/documents/CDL(2013)016-e.aspx
7. Dovgert A. S. (2007) Diya printsipu verhovenstva prava u sferi privatnogo prava. // Universitetski naukovi zapiski.
8. Hayek F. A. (2010) Doroga k rabstvu. Retrieved from: http://www.gramotey.com/?open_file=126908216/
9. The World Justice Project. Retrieved from: http://apps.americanbar.org/wjp/home.html).
10. Hayek F. A. Pravoponimanie. Retrieved from: http://law.edu.ru/article/article.asp?articleID=156308.
11. Nort D. (2011) Nasilie i sotsialnyie poryadki. Kontseptualnyie ramki dlya interpretatsii pismennoy istorii chelovechestva. Moskva. Institut Gaydara.
12. Shumpeter Y. A Teoriya ekonomicheskogo razvitiya. Retrieved from: http://1pixel.ru/shumpeter.php.
13. Koulman, Dzh (1987). Kapital sotsialnyiy i chelovecheskiy. Retrieved from: http://skabber.nir.com.ua/files/.pdf.
14. Sotsiologicheskoe prostranstvo Pera Burdyo. Retrieved from: http://bourdieu.name/content/social-capital.
15. European Commission For Democracy Through Law (Venice Commission). Retrieved from: http://www.venice.coe.int/webforms/documents/?pdf=CDL-AD(2011) 003rev-e.
16. V erhovenstvo prava kak faktor ekonomiki (2013). Moskva. Myisl.

Code DOI

This post is also available in: Russian, Ukrainian

11.06.2015