Alpatov А.А. Methodological aspects of correlation between law and economy

Abstract: The article analyzes a wide range of views with regard to correlation between law and economy. To investigate this problem more thoroughly, an effort has been taken to consider it from various viewpoints, particularly, in the light of historical, economic and legal analysis. When the key problems of correlation are addressed in numerous perspectives, the most sensitive spot appears to be the corporate property. Hence, the author suggests his version of the concept of correlation between economy and law and hopes that it will help to improve the situation in the basic element of economy, to make the reform of legal and economic systems more balanced and efficient, and to identify the missing conditions that are required for steady (non-crisis) development of market economy. The author expresses his gratitude to the Russian Humanitarian Research Foundation (project No. 13-03-00482) which supported this research work. The present difficulties in the process of the Russian market economy formation resulted in the growing interest to the issues of its correlation with law. Moreover, the recent economic recession, experienced in many countries, requires reconsideration of the operational problems not only of the Russian economic system. It is thought that the search for the optimal and suitable solutions for the market failure should be performed with the use of various methods. It is believed that the research of the correlation between law and economy conducted in three dimensions (historical, economical and legal) in parallel with the anthropological, phenomenological and synergetic methodological support will enable to elaborate the most valid ideas and conclusions on the subject of the research. A rather complex structure of the interrelation of economy and law is caused by the major determinants of both categories. The objective laws play a fundamental role in the economy, while the law features the common will of citizens expressed by the state as a basic component. The best way to represent the character of their interaction is through the hierarchy of essences. In our opinion, the economy is the essence of law, but the essence of economy is the equilibrium, or (which is the same) justice. In other words, the essence of economy, meaning the essence of the second-order law, is the balance of equality and freedom, which can be represented as an overlap of two equilibria that are simultaneously established in the market, namely the equivalent and free exchange between entities (1), and the balance of property rights directly in a corporation (2).

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