economic law

Law

2022

We explain what economic law is, its sources, subjects and other characteristics. Also, international economic law.

Economic law regulates the economic activities of a country.

What is economic law?

Economic law is the law of political economy. This, which may seem like a tongue twister, means that economic law is a set of rules and concepts of public Law, designed to facilitate the work of the State in economic planning. For this, this discipline is related, for example, to the commercial law.

The economic law can be defined, thus, as the right that has the Condition to regulate the concert of the economic activities of a country, always in accordance with the provisions of the National Constitution and the laws. In this sense, it is evidence of the close link between the right and the economy.

Characteristics of economic law

Economic law responds to the following characteristics:

  • Traditionally it is classified in two aspects: the traditional European, which valued theoretical knowledge over practice; and the American who values, precisely, the opposite.
  • It establishes a neutral set of “rules of the game” for the economic actors of the society, in relation to the stock market, monetary, financial, and commercial and commercial in general.
  • It has a multidisciplinary character, given the diverse set of actions in the economic sphere that it deals with.

Sources of economic law

The sources of economic law are the basic economic principles contemplated in the Constitution.

Its primary sources are the very principles that guide the economic systems of a society, that is, the laws that constitute the Economic Public Order, and together with them the guidelines of the international treaties signed by the nation.

Subjects of economic law

All companies are subjects of economic law.

Economic law concerns a number of subjects, that is, economic actors who intervene in different ways and in different ways. proportion in productive and commercial work.

I mean, it's all human or legal person who is capable of carrying out legal acts and intervening in the economic process, regardless of their nature and condition, will be considered subjects of economic law. Examples of this are:

  • The state,
  • Banking institutions,
  • The securities dealers,
  • The Business,
  • The public consumer.

International economic law

For its part, international economic law is a branch of the international right which is responsible for regulating commercial and commercial relations between public and private entities of the different countries of the world, according to the guidelines and specifications of the international treaties that said nations sign.

It deals with regulating the exchange of goods, services and financial assets between nations, multiple international organizations, and other types of multilateral economic organizations.

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