Economics and Law: Concepts and Principles

1. What is Economics?

Economics is the social science that studies the production, distribution, and consumption of goods and services.

2. Relationship Between Economics and Law

Both law and economics regulate aspects of social life. Economic rules can become law to ensure compliance, demonstrating the influence of economic factors on legal development.

3. What is Antitrust?

Economic Law governs the production and circulation of goods and services, developing economic courts, especially regarding internal market control. It aims to combat anti-competitive practices and market exploitation.

4. Economic Law and Related Fields

a) Economic Law vs. Economic Law

Economic Law is the branch of law that deals with economic matters.

b) Civil Law and Economic Law

Economic Law interacts with various legal fields, including Civil Law, Business Law, Labor Law, Fiscal Law, Procedural Law, Criminal Law, and Constitutional Law.

5. Economic Policies: Examples

Economic policy comprises government actions to achieve economic goals. These actions are performed by the Government, the Central Bank, and the parliament.

6. Capitalism: Origins and References

a) The Emergence of Capitalism

Capitalism emerged from trade and the exchange of goods. The use of currency marked its development.

b) Capitalism in the 1988 Constitution

The 1988 Constitution references the capitalist/market system.

7. The Emergence of Economic Law

The emergence of Economic Law involves different doctrinal perspectives, including majority and minority views.

8. Tensions: Laissez Faire vs. Intervention Policy

Laissez Faire advocates for non-intervention by the state, while intervention policy involves state action in the economy.

9. The Liberal State

The liberal state focuses on guaranteeing civil liberties, personal inviolability, and private sector economic activity.

10. Meaning of the Independence of the Thirteen Colonies

The meaning of the Independence of the Thirteen Colonies is not clear from the provided text.

11. Political and Economic Liberalism

Political liberalism and economic liberalism are distinct concepts.

12. Robert Fulton’s Contribution to Capitalism

Robert Fulton contributed to capitalism through the invention of the steamboat as a means of transporting goods.

13. The Significance of Decret DALLARD

Decret DALLARD is directly related to economic freedom and freedom of economic initiative in 1791.

14. Adam Smith’s Contributions

Adam Smith contributed the theory of the invisible hand, suggesting that the market, without state intervention, generates wealth.

Antitrust Act and Economic Policies

The Antitrust Act punishes abusive practices in business markets. Actions against large companies for anti-competitive practices exist, such as AMD against Intel. Brazil uses economic policies and has a governing body, the CADE.

Oligopoly and Monopoly

The oligopoly is a situation where a small number of companies dominate a market, representing imperfect competition. The monopoly is a situation of imperfect competition where supply is dominated by a single company.