Advanced Search
MyIDEAS: Login

Observations on the legal theory of finance

Contents:

Author Info

  • Hodgson, Geoffrey M.

Abstract

This is a comment on ’Towards a legal theory of finance’ by Katharina Pistor. It notes that both law and money are complex and controversial phenomena. They have to be treated as historically specific institutions that arise in the context of fundamental uncertainty. The historical origins of both are briefly considered. It is argued that fundamental uncertainty in the Knight-Keynes sense has been marginalised in modern economics and this creates problems for the theory of money. The comment also expands on the notion of ’essential hybridity’ - which signals that money and law are a result of both private arrangements and state intervention.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/pii/S0147596713000371
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Journal of Comparative Economics.

Volume (Year): 41 (2013)
Issue (Month): 2 ()
Pages: 331-337

as in new window
Handle: RePEc:eee:jcecon:v:41:y:2013:i:2:p:331-337

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622864

Related research

Keywords: B40; G00; K10; N20; Law; Money; Finance; Uncertainty; Historical specificity; Essential hybridity;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Bell, Stephanie, 2001. "The Role of the State and the Hierarchy of Money," Cambridge Journal of Economics, Oxford University Press, vol. 25(2), pages 149-63, March.
  2. Searle, John R., 2005. "What is an institution?," Journal of Institutional Economics, Cambridge University Press, vol. 1(01), pages 1-22, June.
  3. Gindis, David, 2009. "From fictions and aggregates to real entities in the theory of the firm," Journal of Institutional Economics, Cambridge University Press, vol. 5(01), pages 25-46, April.
  4. Geoffrey M. Hodgson, 2011. "The Eclipse of the Uncertainty Concept in Mainstream Economics," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 45(1), pages 159-176, March.
  5. Kirman, Alan, 1989. "The Intrinsic Limits of Modern Economic Theory: The Emperor Has No Clothes," Economic Journal, Royal Economic Society, vol. 99(395), pages 126-39, Supplemen.
  6. Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5(1), pages 7-29, January.
  7. Geoffrey Hodgson, 2002. "The Legal Nature of the Firm and the Myth of the Firm-Market Hybrid," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 9(1), pages 37-60.
  8. Hodgson, Geoffrey M, 1997. "The Ubiquity of Habits and Rules," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 663-84, November.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Pistor, Katharina, 2013. "A legal theory of finance," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 315-330.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:jcecon:v:41:y:2013:i:2:p:331-337. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.