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| Author: | Avio, K. L. |
| Title: | Habermasian Ethics and Institutional Law and Economics |
| Journal: | Kyklos
1999 : VOL. 52:4, p. 511-534 |
| Index terms: | ECONOMICS ECONOMIC ANALYSIS LAW |
| Language: | ger |
| Abstract: | Institutional law and economics has had minimal impact on rival traditions in the economic analysis of law. One reason is that institutionalism lacks a coherent normative founda- tion that can compete with wealth maximization (Chicago School) and Wicksellian unanimity (public choice). This paper argues that the discourse ethics of Jürgen Habermas as presented in his "Between Facts and Norms" constitutes a normative foundation for legal theory that is compatible with institutional law and economics. It is argued that discourse ethics fails to integrate the economy with morality, law and politics, whereas institutio- nalism fails to integrate morality witht the economy, law and politics. The complementary blindspots suggest rephra- sing institutionalist problem-solving as a discursive acti- vity exhibiting normative characteristics |
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