THE IMPORTANCE OF LAW AND ECONOMICS IN THE CONTEMPORARY ECONOMIC REALITY

Abstract

The law and economics movement can improve the functioning of companies doing business in the contemporary, rapidly changing, reality. The tensions between the idea of efficiency and the idea of justice cause difficulties in the application of tools which are proposed by the representatives of the law and economics movement in legal solutions. Economics proposes a new, fresh look at the law, which makes it easier to assess and influence the growth of its transparency. Perspective can therefore be useful for subjects who create and use the existing regulations.

Keywords

• law and economics
• efficiency of law
• justice
• business activity