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Research on the Externality of the Establishment and Implementation of Economic Law Based on Sociology of Law

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DOI: 10.25236/icemeet.2019.262

Author(s)

Wang Jing

Corresponding Author

Wang Jing

Abstract

In recent years, China's economic development has been rapid. As the fundamental law to regulate and control the economy, economic law plays an irreplaceable role in market economic activities. In the process of its formulation and implementation, it will inevitably bring additional costs and benefits to others, which is the externality of economic law. The internalization of the externality of economic law can be carried out from two aspects: the formulation and implementation of economic law, that is, from the public and private subjects of economic subjects. By perfecting the economic system to protect the legitimate rights and interests of private entities, the implementation of economic law is more in line with social needs. Based on sociology of law, this paper explores the externalities of economic law, including its manifestations, root causes, and internalization measures, to provide a new theoretical perspective for the relevant authorities to formulate economic law norms that are fair and improve the implementation system of economic law.

Keywords

Economic Law, Market Economy, Externality, Sociology of Law