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Of Norms, Rules And Markets: A Comment On Samuels

Of Norms, Rules And Markets: A Comment On Samuels Communications et Commentaires Scott Beaulier & Peter Boettke* Warren Samuels' work on the legal-economic nexus attempts to explain the intricacies and nuances of social order. 1 This work highlights the difficulties that simplistic accounts of social order confront. As he has summed up his position: "Rights are not produced in a black box called government; and the economy does not operate on its own. A legal-economic nexus is formed by the process in which both are simultaneously (re)determined. At the heart of society and of social (including legal) change is control and use of the legal-economic nexus, and at the heart thereof is the exercise of government, power and belief system. The fundamentals of the legal-economic nexus are not as simple and obvious as contemplated by views that maintain that the polity and economy are pre-existent, selfsubsistent spheres."2 Two of his most recent essays, both published in this journal, continue this line of argument and are welcomed additions to the literature on norms, rules and markets.3 Samuels provides an explanation of how certain customs, norms, and rules will shape the social order that emerges. Order may indeed be defined in the · James M. Buchanan Center for Political http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal des Économistes et des Études Humaines de Gruyter

Of Norms, Rules And Markets: A Comment On Samuels

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References (18)

Publisher
de Gruyter
Copyright
Copyright © 2000 by the
ISSN
2194-5799
eISSN
2153-1552
DOI
10.1515/jeeh-2000-0406
Publisher site
See Article on Publisher Site

Abstract

Communications et Commentaires Scott Beaulier & Peter Boettke* Warren Samuels' work on the legal-economic nexus attempts to explain the intricacies and nuances of social order. 1 This work highlights the difficulties that simplistic accounts of social order confront. As he has summed up his position: "Rights are not produced in a black box called government; and the economy does not operate on its own. A legal-economic nexus is formed by the process in which both are simultaneously (re)determined. At the heart of society and of social (including legal) change is control and use of the legal-economic nexus, and at the heart thereof is the exercise of government, power and belief system. The fundamentals of the legal-economic nexus are not as simple and obvious as contemplated by views that maintain that the polity and economy are pre-existent, selfsubsistent spheres."2 Two of his most recent essays, both published in this journal, continue this line of argument and are welcomed additions to the literature on norms, rules and markets.3 Samuels provides an explanation of how certain customs, norms, and rules will shape the social order that emerges. Order may indeed be defined in the · James M. Buchanan Center for Political

Journal

Journal des Économistes et des Études Humainesde Gruyter

Published: Dec 1, 2000

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