Need Government Intervention: Interpretation in the Field of Economic Law

Author: Shan Feiyue
Publisher:
Publish Date: 2005-02-01
Features: The "Theory of the Need for State Intervention" elucidates from a historical perspective the process by which the state employs legal means, particularly economic law, to intervene in socioeconomic life. Based on the distinction between traditional and modern economic law, it proposes from the dimensions of "market failure" and "government failure" that economic law is "a comprehensive set of legal norms concerning economic relations with the characteristics of global and social public nature, which the state formulates to overcome the blindness and limitations of market regulation. In short, economic law is a comprehensive set of legal norms that regulate economic relations requiring state intervention." Within the academic framework of the "Theory of the Need for State Intervention," the economic relations that require state intervention and possess global and social public characteristics—namely, the economic relations requiring state intervention, such as the regulation of market entities, market order regulation, macroeconomic regulation and sustainable development assurance, and social distribution—are the objects of regulation for economic law; "state intervention" is the essential feature of economic law; and principles such as the "principle of optimal resource allocation," the "principle of moderate state intervention," and the "principle of social orientation" are the fundamental guiding principles of economic law. The modern economic law system should primarily consist of legal systems for regulating market entities, legal systems for regulating market orders, legal systems for macroeconomic regulation and sustainable development strategy assurance, and legal systems for social distribution. Social fairness and economic democracy constitute the value system of modern Chinese economic law. In this book, due to the need for focused discussion on the topic, we have not comprehensively covered the entire academic field of the professor but have primarily conducted multi-angle and multi-disciplinary research from the perspectives of legal philosophy, ethics, constitutionalism, legal sociology, legal economics, and scientific methodology, aiming to promote and enhance this mainstream theory of economic law.