Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates from inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the state are criticized here, because they typically assume relatively small numbers of agents and underplay the complexity and uncertainty in developed capitalist systems. In developed capitalist economies, law is sustained through interaction between private agents, courts (...) and the legislative apparatus. Law is also a key institution for overcoming contracting uncertainties. It is furthermore a part of the power structure of society, and a major means by which power is exercised. This argument is illustrated by considering institutions such as property and the firm. Complex systems of law have played a crucial role in capitalist development and are also vital for developing economies. (shrink)

History of science students will want to read this book. Professor Zuo animates the life, career, and thought of SHEN Gua in this delightful historical, biographical work. SHEN Gua embodied the classical spirit of the scholar-official during the Song dynasty. Shen is the author of Brush Talks from Dream Brook, a canonical text in the study of the history of science in China and in the Notebook style of writing. Zuo argues, using a double-narrative structure, that Shen’s intellectual life and (...) career are fused in his scientific empiricism. This book is a complete study containing a List of Tables and Figures, three pages of Acknowledgments, a List of terms. (shrink)