IDEAS home Printed from https://ideas.repec.org/a/cpo/journl/y2008i54p57-83.html
   My bibliography  Save this article

The judge and the market: legal rule, coordination and hermeneutics in Hayekian spontaneous order

Author

Listed:
  • Samuel FEREY

    ()

Abstract

The article focuses on a tension in the Hayekian representation of legal rules. While rules perform an essential function of coordination by providing common interpretation about the legitimate expectations, Hayek does not really develop the mechanisms by which common interpretations may emerge. Firstly, the functions of coordination of rules are presented. We show then that rules are constituted by individual meanings. Finally we show none of the two mechanisms producing shared interpretations, the sense of justice and the judge, is able to guarantee the resolution of conflicts of interpretation between individuals. Such a conflict questions therefore spontaneous order's efficiency and justice.

Suggested Citation

  • Samuel FEREY, 2008. "The judge and the market: legal rule, coordination and hermeneutics in Hayekian spontaneous order," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 54, pages 57-83, Jan - Jun.
  • Handle: RePEc:cpo:journl:y:2008:i:54:p:57-83
    as

    Download full text from publisher

    File URL: http://www.cairn.info/acheter_article.php?ID_ARTICLE=CEP_054_0057
    Download Restriction: no

    More about this item

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • K0 - Law and Economics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpo:journl:y:2008:i:54:p:57-83. 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: (Carlos Andrés Vasco Correa). General contact details of provider: http://www.cahiersdecopo.fr/fr/ .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.