On the analytical strategies for Law and Political Economy research

This article distinguishes isolationist and integrationist accounts of the legal-economic nexus. Isolationists deny the possibility of integrating different theoretical perspectives, while integrationists try to unify different accounts. Leading legal theorists have recently presented isolationist efficiency-, liberty-, and democracy-centred accounts of the market. It is argued that the legal–economic nexus is an integrationist concept, requiring an integrationist understanding of the constitutive role of law in the economy – a common view within the Law and Political Economy movement. Two integrationist strategies are presented: structural integrations and epistemic translations. Using them, an integrated consumer-centric account of the market is offered: consumers are not mere instruments; they are the lead actor, with all the entitlements in terms of powers, rights, and responsibilities that this position of authority entails.

International political economy · Isolationism · Politics · Comparative and International Law Studies · European and International Contract Law · Law, Economics, and Judicial Systems