Institutional theory of contracts – the pressure of economy and law

• Authors: Wacław Stankiewicz

Title variants

EN

Instytucjonalna teoria kontraktów – presja ekonomii i prawa

• Languages of publication: PL

Abstracts

EN

General frames and approach of institutional theory of contracts enable the presentation of traditions and the development of homo contractus conception as well as exploration area of conflict interests between state and economy which is connected with its activity. Discussions about the beginnings of institutional doctrine and jurisprudence devoted a lot of attention to relations of three key notions. I think that from the depths of antropoethology emerged the notion of instinct. For T. Veblen – a master of “old” institutional economics – it was enough to define the “institution” notion and for modern “new” institutional economists it served as facilitation for the analysis of behavior of contractors. Jurists and economists met very early – rather as friends – on the area of the second notion – custom – and its role in establishing state laws. The agreeable cooperation was disturbed in debate about the last notion – institution. An important question arises: Is an institution a part of Justinian Code or a pattern of behavior inherited from the past? Antiquity cannot cross the border between praxis and science though it created such monuments as Hammurabi Code. Roman law is now an accepted source of science of European law. The precision of liabilities law, the synthesis of Greek and Roman thought and elasticity of authorities facilitated the adaptation of norms of tribal law. Emerging new economic doctrines – canonistic, mercantilism, physiocratism and finally classical economics − opened the area for social-economic contacts widely and helped to reach a lot compromise also in contracting. Contemporary theory of contracts occupies a prominent place in universal economic thought and is now a good partner in relations with jurisprudence. The challenge for our community are realities of integration and globalization processes causing conflicts in the area of contracts control. More and more attention is devoted to the questions of law and economics, the fame of Chicago School is growing, there are some Nobel Prizes and teaching this discipline in Poland is successful.

Keywords

EN

institutional theory of contracts; state; economy

• Publisher: Uniwersytet Ekonomiczny we Wrocławiu. Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
• Journal: Ekonomia - Uniwersytet Ekonomiczny we Wroclawiu
• Year: 2013
• Issue: 4 (25)
• Pages: 273-288

Contributors

author

Wacław Stankiewicz

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