Book analyzes implications of relations between law and economics for society
Fundação Getulio Vargas’ Rio de Janeiro Law School has launched the book “Topics in Law and Economics,” produced in partnership with Bahia State Court of Appeals and its Corporate University. The collection of articles written by judges spans subjects in the area of law and economics. It was organized by FGV Rio de Janeiro Law School professors Armando Castelar, Antônio Maristrello Porto and Patrícia Sampaio.
The judges who wrote the articles participated in the Law, Economics and Justice Knowledge Diffusion Project, run by FGV Rio de Janeiro Law School in partnership with courts and their schools. This initiative encompasses courses, seminars and the production of academic papers. The core subject of these activities is the relationship between the judiciary, law and economics.
Listed in alphabetical order, the articles address complex legal and economic issues affecting society. Maurício Albagli Oliveira looks at the economic function of equity capital in limited liability companies, especially its intangibility and influence on partners’ responsibility for corporate debts.
Monique Ribeiro de Carvalho Gomes explores the duty to ground judicial decisions in the system of binding precedents and its relationship to the 2015 Code of Civil Procedure, revealing the judiciary’s importance in the allocation of market incentives, the need to follow precedents when judging similar lawsuits and the consequent generation of security and stability in the economy.
Pedro Henrique Izidro da Silva presents some considerations about dialogue between economic analysis of law and human dignity. Following a brief overview of both these topics and how human dignity is treated in the 1988 Brazilian Constitution and how economic analysis of law and human dignity are combined, he explores the hypothesis that by relativizing human dignity, economic analysis of law is able to ensure social well-being and the equitable distribution of resources.
Later on, Rílton Góes Ribeiro discusses the need to establish an objective criterion for differentiating between mere annoyance and pain and suffering that warrants compensation, which must be reasonable and proportional. As a dilemma for the judiciary, he addresses the correct parameters for setting this indemnity. The author presents a criterion for identifying annoyance and discusses the two-phase criterion adopted by the Superior Court of Appeals.
Finally, Rita de Cássia Ramos de Carvalho discusses cryptocurrencies. The researcher analyzed the phenomenon of cryptocurrencies and difficulties that the absence of specific regulation dealing with the matter causes in facing related demands that are submitted to the judiciary in Brazil. She demonstrates that the Brazilian state needs to regulate cryptocurrencies with due caution and rationality, underpinned by economic science, in order to minimize any negative economic impacts.
The publication is available free of charge here.