Economic Analysis of Property Law

Author: Peng Hanying
Publisher:
Publish Date: 2000-06-01
Features: The concept of law in economic analysis of law is centered on efficiency. It holds that law should be feasible and open, and should establish an economic mechanism that can stimulate people's interest motives. It should have a reasonable structure that is consistent with its own objectives. Ultimately, all legal norms, legal systems, and legal activities (legislation, adjudication, litigation, etc.) must aim to effectively utilize resources and maximize social wealth. Law should serve as an effective means to promote the optimal allocation of resources and achieve beneficial outcomes. The history of law can be explained through economics. With a strong interest, the author explores the thoughts and views of renowned scholars such as R. Coase, R.A. Posner, R. Cort, and T. Ulen, M. Balles, Calibris, H. Demsetz, and Zhang Wuchang. The author attempts to integrate this new legal philosophy into the principles and rules of China's legal system. This is a highly engaging work, and the author sincerely hopes that more colleagues interested in this field will join in, so that economic analysis of law may become familiar and recognized by more citizens, government officials, lawyers, judges, and legislators, contributing together to the legal progress of our time.