Economic Analysis On PUBLIC INTERESTS In The PROPERTY LAW

The formation of Law and Economics has provided a brand-new method for the creation and improvement of legal framework, as well as brought a fire-new field to the expansion of economics connotation and the guidance of economic theory to the practice. The two different subjects share similar theory foundation in various aspects, such as, according to economics, everybody pursues the maximization of his or her own interests, while in accordance of law theory, everybody is the best watchdog of his or her own interests. The similar theory foundation makes it possible and necessary for the two subjects to amalgamate.The PUBLIC INTERESTS, an important concept in the law theory, shall be analyzed from the economic aspect in this paper. The analysis shall be focused on the appropriate balance between the public interests and the private interests in the real world: the absolute public interests rarely exists, usually intermingling with the private interests. As for the theoretical study, our task is, on the basis of reality, to explore some criteria, helpful to the social development and universally accepted by the real world, that is, how to keep an appropriate balance between the public interests and the private interests.In the paper, the author shall, in the concrete theoretical background of PROPERTY LAW, make a discussion on the concept of PUBLIC INTERESTS and its nature and features in hope of a theoretical breakthrough, after a prudent selection among the existing theories. Firstly, the author shall give a clear definition to the concept of PUBLIC INTERESTS by way of integrating the various theories of economics, sociology and law. Then, the author shall further explore the advantages and disadvantages of the private interests to the public interests, the tangle and boundary between the private interests and the public interests, the contest in the house-demolish-and-relocate affair and its influences to the public interests, the dilemma for Pareto Improvement,the second choice of Arrow's impossibility theorem according to the reality,the reality basic of Kaldor- Hicksim-Provement. Finally, the economic boundaries of PUBLIC INTERESTS shall be clearly brought to the readers.