Capitalism's Legal Foundation (Translation of Famous Works)

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 material." The author also believes that the emergence of the capitalist system should precede the existence of courts, as courts protect the development of capitalism.