The Value Of The Law Economy For China’s Law System

Economics of Law, also called the Law and Economics, or the Economic Analysis of Law. It is thefirst time in the history of jurisprudence to theoretically explain “law” as the endogenous variable in theeconomic development, and also expand a new world for the analysis of Nomology. As an emerginginterdiscipline, the emergence and development of Economics of Law has its own objective rationality. The"rational man" hypothesis of the economics microeconomics is used as the logical starting point inEconomics of Law, which regards that the legal act result from the individual spontaneous or unconsciousrational choice, all the following core theories are based on this. The ideological principle for theEconomics of Law is “wealth maximization”, wealth here refers to all human positive benefits, and all legalactivities should follow this principle. The research method and objective principle for Economics of Lawis positivism, which is also the philosophical basis of the Law and Economics, The pragmatic attitude canlead to the maximization of function and value of the law. The evaluation criteria and aim of Economics ofLaw is "efficiency", it has not only broken the dominant of "fair","justice" in the legal system of values,and brought a certain impact to traditional legal research, but also created some new ideas for the valueresearch of Nomology. With the booming development of Economic of Laws in the world, some questionsappeared. This research aims to expound the core theories inEconomics of Laws and rethink the questionsof this emerging subject, and try to learn and investigate this subject in a rational manner.This research analyzed the development and basic core theories of Economics of Law, and exploredthe core principle theories and innovation of Economic of Law, the relationship between Economic of Lawand legal construction was investigated as well, and then come to the necessity and possibility of China’sdevelopment and learn from Economics Law. Economics and Law is in line with the internal law of themarket economy and the historical background of economic globalization and law globalization, itsdevelopment and application in China have the social basis and rationality.China is currently in a societytransformation period, there are a series of difficulties in the construction of the legal society and theimprovement of the market economy system. In order to build and improve China’s socialist marketeconomy legal system, the “marriage” of Jurisprudence and Economics is necessary. And it is useful to borrow some basic theories and perspectives from the Western Economics and Law, to accept economicconcepts such as "efficiency","cost","price""wealth maximization","balanced","resource allocation","the Battle". These methods could protect fairness to share “cake” and promote the efforts to increase thetotal amount of the "cake".This is the mission of the contemporary law, and also the aim of this research.This article attempted to explore the value of Economics and Law to China’s rule of Law, from aspects oflegal construction, legal ideology construction and the development of Economics of Law, and then furtherrefined to the reference value of Economics and Law for China’s legislative, justice, legal research, law andeducation.Investigating the areas of western Economics of Law, and taking advantage of their theories andmethods to China’s law research also have a practical significance for China’s construction of socialist ruleof law and the perfection of market economies to China’s law research.