Implications for Social and Economic Development
- New Horizons in Competition Law and Economics series
Chapter 4: Conclusion: From a General Theory of Economic Power to a General Theory of Law?
4. Conclusion: From a general theory of economic power to a general theory of law? The intention of building a general legal theory of economic power, expressed in this work, is justified. As demonstrated, the fundamental traits of a common empiric phenomenon are present in many ways by which economic power manifests itself. There are at least three important common features identified in this book. Be it deriving from market structure, legal structure, or social structure of dependence in relation to natural resources, economic power always ends up generating totalizing social and economical draining, able to subject social and political spheres to its intent. The many ways of social and economic draining, identified throughout this work, are nothing but an example of the broad effects of the structures of economic power. More importantly still, economic power, in any of its manifestations, has as its feature and nature the ability to substitute law in the organization of the social relations. This is its most worrisome face (at least for the jurist). By substituting the law, it is able to eliminate any possibility of reaction and social transformation arising from the realm of values. That is why the third common trait of the structures of economic power deserved special attention to the point of becoming the guideline of the work. It is the structural discipline to which economic power must be subjected. Even if they have different methods depending on the source of economic power (market, law or social relations) they have...
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