Legal Basis of Capitalism

Author: Commons
Publisher:
Publish Date: 2003-04-01
Features: Commons was a renowned American economist, and this book is one of his major works. This book examines economic development from a legal perspective and concludes that law should precede the economy. Specifically, it argues that the transaction relationship as the "transfer of ownership" should exist before the exchange relationship as the "transfer of matter." The author also believes that the emergence of the capitalist system should precede the court, as the court protects the development of capitalism.